Nationwide specialist projects
Sector: Fire and Security
Type of business: Provider of smoke ventilation systems in commercial and residential buildings.
Location: Worcestershire
Motivation for sale:
Directors with the largest shareholding wished to remain with the company in their existing roles and work alongside the acquirer to drive further growth.
Acquirer profile:
TIS is a national systems integrator, specialising in digital transformation, communications and security systems to satisfy commercial requirements across multiple sectors.
Marketing strategy:
Whilst we have completed many deals in the fire and security sector, this was the first smoke ventilation contractor we had represented on the market. This industry will be a significant growth area over the coming years due to Grenfell regulations, accounting for retrospective work and new build projects.
Negotiation strategy:
NSP generated interest from a broad range of buyers, including private equity houses, competitors and synergistic buyers such as TIS. It is an excellent business led by an exceptional management team. The transaction allowed the shareholders to de-risk, but also to retain their roles to help deliver exciting growth plans under the umbrella of the TIS Group. It was a pleasure to advise the shareholders and bring the deal to a successful conclusion.
Vendor's comments:
“We are excited about the immediate opportunities our partnership with TIS will bring, enabling us to offer our innovative smoke control services, expertise and knowledge to a much larger audience. There are many similarities commercially and culturally between the way TIS and NSP operate, and we believe TIS’ flexible, innovative approach to the design, installation and maintenance of integrated life safety and security systems will complement us well, bringing significant additional value to our customers.”
Acquirer's comments:
“The deal strengthens our core capabilities and provides opportunities to enter other high-growth sectors such as residential developments. Together with NSP, we are bridging an important gap in fire safety and smoke control.”