Phoenix announces investment in Spy Alarms

Phoenix Equity Partners ("Phoenix") today announces a majority investment in Spy Alarms (“Spy” or the “Company”), a leading UK provider of electronic security and fire services. Phoenix has invested alongside Founder and CEO, Tom Howard, who has made a substantial reinvestment in the Company as part of the transaction. Phoenix will work closely with Tom and his team to support the continued strong growth of the Company and provide funding to support further acquisitions.

Headquartered in Orpington with offices in Merton and Canterbury, Spy Alarms serves both commercial and domestic customers across London and the South East of England. Spy installs, maintains and monitors intruder alarms, CCTV, fire safety systems and access control systems, using remote technology solutions to help safeguard its customers.

The Company was founded in 2012 by Tom Howard and Simon Beart and has since grown strongly through a combination of organic and acquisitive growth. The business now has over 30,000 customers and 70 engineers and has completed 16 acquisitions to date.

Tom Howard, CEO of Spy Alarms, said: “We are proud of everything we have achieved with Spy Alarms and see significant scope for further growth. We are pleased to have found a partner in Phoenix that not only shares our ambition, but also has tremendous experience in supporting growth companies, particularly with their acquisition strategies.”

Chris Neale, Partner at Phoenix, said: “Spy Alarms is a fast-growing business that operates in a robust, growing sector and has significant opportunity for further acquisitions given the fragmented nature of the security industry. We look forward to working with Tom and his team to help deliver on their plans and accelerate the company’s growth.”

Phoenix was advised by Arrowpoint, CMS, Teneo and EY on the transaction and by Deloitte on debt financing. The vendors were advised by Deloitte, Connecting Advisors and Stevens & Bolton. Debt financing for the transaction was provided by Crescent Capital. Financial terms are not being disclosed.