Sell My Engineering Business

VGI Management Ltd

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.”

Glevum Security Ltd

Glevum Security has been sold in a deal that expands the buyer’s geographical reach into the South West of England.

A transaction overseen by Matthew Sibley, KBS Corporate Associate Director, sees Glevum acquired by London-based TMA Security, which supplied over 500 professionals for both The Queen’s funeral and King Charles III’s coronation in 2022 and 2023 respectively.

Based in Gloucester, Glevum provides professional security services for clients ranging from major corporate concerns to small family-run businesses across its home county and others in the west of England from Worcestershire down to Somerset.

This was an attractive feature of the opportunity for TMA Security, which was completing its first acquisition having been founded in 2019 and prides itself on offering a highly personal service focused on integrity, quality and professionalism.

In five years, TMA has become one of the UK’s leading security companies and the addition of Glevum will enable a substantial expansion of its service area and client base.

“Glevum Security is delighted to be joining TMA,” said Mark Baker and Steve Barnett, directors of Glevum. “The team there are as passionate about delivering effective security solutions as we are, and we are looking forward to working together to expand our services and keep more people and properties safe and secure.”

Mark Telford, Managing Director of TMA Security, added: “We are pleased that Glevum Security has joined TMA at this pivotal time of growth in our business. Glevum shares TMA’s core beliefs of responsibility and keeping people safe through the latest developments in security, and the team has invaluable knowledge in improving and developing new security products.

“The acquisition of Glevum Security means TMA can expand our valuable services, client base and expertise to ensure we can provide the very best in security for our customers.”

Matthew Sibley explained there had been sizeable interest in Glevum when the opportunity became available.

“The interest was mostly from trade companies but also some investment firms, all of whom were attracted to Glevum’s consistent financial performance,” he said.

Matt also expressed his gratitude to Harriet Jones of Mackrell Solicitors, accountant Will Abbott of Randall & Payne LLP, and KBS colleague Connor Dorsey “for arranging the data room and generally facilitating the provision of due diligence”.

Select Surveys Ltd

A “significant milestone” has been chalked up by the sale of Select Surveys to the LSBUD (LinesearchbeforeUdig) Group in a deal overseen by Fabio Rambelli, KBS Corporate Associate Director.

Founded in 1996 and based in Kent, Select Surveys is a utility and land surveying company which specialises in limiting or eliminating risk for the design and planning of new or replacement mains and services in the utility industry.

The company’s long-standing surveying expertise now complements LSBUD’s utility mapping data service. LSBUD provides utility asset maps in response to over 15,000 enquiries every day, having become established as the UK’s leading safe digging service with a free-to-use online search facility which covers a sizeable majority of the country’s utility infrastructure.

It can be used by anyone involved in construction, excavation, fencing, ditching and works likely to break ground of any scale, from a highway scheme to merely replacing a garden fence.

Deme Cordell, Director of Select Surveys, commented about the sale: “After more than two decades of dedicated efforts in building and nurturing Select Surveys into a leading entity within the geospatial industry, we are pleased to announce an exciting new chapter in our journey. LSBUD is a company that shares our unwavering commitment to ensuring the safety of operatives and protecting buried infrastructure across the UK.

“This transition marks a significant milestone for Select Surveys and our valued clients. We believe that aligning with LSBUD will not only enhance our capabilities but also open up new avenues for growth and innovation.

“Our collective focus remains steadfast on expanding and refining our business operations, thereby creating enriching opportunities for our exceptional team members and delivering enhanced services to our loyal clientele.

“As we embark on this new phase of our evolution, we express our gratitude to all those who have contributed to our success thus far. We are confident this strategic partnership will propel Select Surveys to even greater heights while continuing to uphold the standards of excellence that have defined us over the years.”

Richard Broome, Managing Director of Nuneaton-based LSBUD, added: “We are delighted to have completed this deal as part of a strategic plan to extend LSBUD’s offering. Our previous growth and development has been organic so this marks a step-change, a real statement of intent. It’s just the start of our plans to extend LSBUD’s role and reach.

“With the combined experience and expertise of both companies, and working closely with our new Select colleagues, this new chapter will help solidify LSBUD’s place as the UK’s most comprehensive safe digging service.”

Fabio Rambelli of KBS Corporate wished all parties the very best in their future endeavours and thanked CooperBurnett LLP, the solicitors for Select Surveys, for their work during the transaction.