A Crewe-based family business which specialises in electronic security systems has hit the acquisition trail with the backing of an SME Loan from Mercia.
EPG Security Systems has acquired Crown Securities in a six-figure deal that will enable it to expand into the Shropshire area and diversify its client base. It is the second acquisition by EPG following that of Congleton-based Welch last year. The company is now seeking further acquisitions as part of its plans to expand its service lines and geographical reach and treble in size within the next five years.
EPG Security Systems was established in 1988 by Fletcher Strickland, the current chairman, and is now run by his sons Fletcher junior and Joe, and his daughter and son-in-law Laura and Mark Stoneley.
The business, which currently employs 15 staff, instals and maintains electronic security systems, fire alarms, and provides remote monitoring to both commercial and residential clients. EPG is recognised by the NSI (National Security Inspectorate) and has the highest level of accreditation, with the authority to report directly to police incident rooms.
Crown Securities, which also provides electronic security systems and CCTV, is based in Ellesmere, Shropshire. The acquisition will allow for the retirement of founder Colin Bloor, who started the business in 1985.
Joe Strickland, commercial director, said: “The electronic security industry is very fragmented, with a lot of small businesses run by independent operators, many of them approaching retirement. As the second generation of the family, we are a young and energetic team with the drive to take on some of these firms. We are keen to build our business and establish ourselves as a key regional player.”
Andy Heaton of the Mercia SME Loans team added: “EPG Security Systems has grown considerably over the past year and the team can see opportunities for consolidation within the industry. As one of the few funders able to provide loans for acquisitions, we are pleased to be able to support this second-generation family business as they set out on the growth trail.”
Mark Jerman of Watts Commercial Finance provided funding advice to EPG. “At Watts we remain committed to helping our clients grow and achieve their business goals and I was delighted to support EPG to secure a funding package for their latest acquisition. I look forward to seeing their business thrive as they continue to expand.”