VGI SETS OUT ON NEW PATH TO CONTINUED SUCCESS

KBS Corporate has helped Enzo Genco, Director of VGI Management (“VGI”), by overseeing the sale of his company to New Path Fire and Security.

Enzo praised the role of KBS and in particular Paul Liptrott, the KBS Corporate Deal Executive who coordinated the transaction, for his “calm and thoughtful approach” to the process.

An electrical, fire and security company which was founded in 1998 as VGI Security and now trades as VGI Solutions, the Surrey-based business has delivered its services to projects including London’s Olympic Park, O2 Arena and Terminal 5 at Heathrow Airport.

More recently, VGI has streamlined its offering to meet the requirements of property management firms, its specialisms including electrical and lighting installation, fire alarm systems and security gates.

Enzo received substantial interest in the company from potential acquirers, including New Path Fire and Security (“New Path”).

New Path is a group of fire and security companies that acquires well-established businesses which have built up brand recognition and reputation over many years.

“The outlook is very positive,” said Enzo. “We have become part of a group of companies which can assure our clients they are in competent hands. We can now also offer other services to our clients utilising other companies within the group.”

Paul Liptrott described the understandable reasons why VGI was an attractive proposition for New Path.

“The business has just achieved a record year, which helped Enzo achieve a great value for the company, while New Path has a strong interest in businesses which offer the services VGI provides within its location,” he said.

Paul was delighted with how smoothly the transaction progressed and the involvement of other key stakeholders in ensuring an outcome with which all parties were happy.

“Enzo was exceptional in communicating with myself in regard to his ambitions,” he said. “This meant the process went very smoothly. Particularly, it was helpful in negotiating with the buyer about the offer regarding the overall value and how things were structured.

“Huge appreciation also for the efforts of Jai Singh of the Alston Asquith law firm. Jai was instrumental in mitigating against any issue the deal could encounter and ensuring everything was attended to in the soonest possible timescale. Jai went above and beyond to assist on this deal, and I shall very much look forward to working with him on further transactions.”

Within the KBS team, Paul praised Kirsty Poynton who “put together an exceptional Information Memorandum and teaser document which really illustrated the strengths of this opportunity”.

The final word must, of course, go to Enzo, who was delighted with the work put in by KBS to ensure his objectives became a reality.

Enzo praised the “very good communication and help from KBS” and added: “Paul was excellent throughout the sales process. He has a calm and thoughtful approach which always felt reassuring. I very much appreciated his help and support.”