Tag Archives: Clydesdale Bank Cashflow Finance

Connelly Security Systems Ltd boosts market share following AFA Fire & Security Ltd acquisition

A Glasgow-based firm has “become the premier provider of security solutions in central Scotland” following the acquisition of a security alarm business.

Connelly Security Systems Ltd (CSS) has acquired AFA Fire & Security Ltd of Bathgate in a seven-figure transaction. The deal has allowed CSS to increase its market share and boost its turnover to over £9 million per annum.

Serving both the commercial and residential sectors, CSS provides a comprehensive range of products and services which allow customers to fulfil all of their security requirements with a single provider. The CSS product range includes intruder alarms, fire alarms, CCTV, retail product tagging, access control and monitoring (all of which are supported by comprehensive service and maintenance support).

Handshake

The deal, which is supported by Clydesdale Bank Cashflow Finance, has also increased CSS’ customer base to over 25,000.

Paul Connelly, managing director at CSS, said: “This is a fantastic opportunity to increase both the customer base and geographic coverage of CSS through the acquisition of a quality business which the vendors have developed over the last 18 years. I was delighted to receive the continued support of Clydesdale Bank, whom we have worked with for over 30 years, which enabled the acquisition terms to be agreed quickly and completion achieved in a short timescale. It’s an important milestone in CSS’ journey and we look forward to continuing to grow the business and enhance the service we can offer to our customers.”

CSS, which launched in 1986, is based in the Possil Park area of Glasgow and the acquisition sees its headcount increase to 130.

Mark Young, director of SME Cashflow Finance at Clydesdale Bank, added: “We have developed an excellent working relationship with CSS. Its ongoing commitment to delivering the optimal customer experience at every interaction is an approach that makes the company a successful business. The business has been involved in a number of acquisitions which have been successfully integrated into the CSS operating model. This has created strong sustainable cashflow enabling this sizeable acquisition to be funded through our Cashflow Finance offering.”

David MacKay, the previous owner of AFA Fire & Security Ltd, will continue to be involved in the business in the short term to ensure a smooth transition. The acquisition will not result in any reduction in workforce.

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