A Greater Manchester surveillance products firm has secured a £ 30million investment from mid-sized private equity firm LDC.
Wireless CCTV (WCCTV), headquartered in Rochdale, said the minority investment will accelerate its domestic and international expansion plans and support the launch of new products and services.
The company provides wireless surveillance products, including redeployable video surveillance, site security solutions and body cameras.
Its products are used by the infrastructure, utilities, retail, transportation and construction industries, as well as by local authorities and housing associations in the UK and US.
Founded in 2001, WCCTV has three offices across the UK, with locations in Edinburgh and Luton alongside its head office in Rochdale, with a fourth base in Texas, USA.
Its turnover has grown by over 50% over the past three years to reach £ 14.1million in the fiscal year ended July 31, 2020.
As part of the deal, president and founder Tim Williams, as well as chief executive David Gilbertson, will remain in office.
The deal will also see Ian Burnett join the WCCTV board as a non-executive director.
The investment was led by LDC director for the North West, Dale Alderson, alongside investment director Richard Ibbett and Grant Goodwin.
Mr. Alderson and Mr. Ibbett will also join the board as non-executive directors under the deal.
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Mr. Williams said: “Over the past 20 years, we have built our reputation as the benchmark for rapidly deployed and redeployable surveillance solutions.
“I would like to thank our dedicated staff and accomplished leadership team who we believe will help deliver the next step in our exciting growth strategy.
“With the support of LDC, we have the opportunity to grow rapidly, further improve our product range and expand our presence in the UK and abroad. “
Dale Alderson, Northwest Manager at LDC, added: “The WCCTV team has been successful in building a business in a high growth market, with a truly customer-centric product line that has supported its growth in the Kingdom. United and America.
“With our support, the company has the perfect platform to grow even further by adding new innovations and new specialties to its range. We are delighted to partner with them at this key stage in their journey.”
Adam Sivner, Director of GCA Altium, who advised WCCTV on the deal, said: “WCCTV is a prime example of a leading industrial technology company based in the Northwest that has shown continued international growth for several years. years.
“Its high-tech products are essential to protect critical infrastructure in the UK and US.
“This latest support from LDC will help the company consolidate its position as a global leader in the field and we are delighted to be on this journey with them.”
LDC was advised by KPMG and Squire Patton Boggs. EY provided financial due diligence, CIL provided business due diligence, and Intechnica provided technical due diligence.
WCCTV was advised by GCA Altium and Addleshaw Goddard.