CSS increases Turnover to over £9M following successful acquisition
Connelly Security Systems Ltd (CSS) has completed the acquisition of AFA Fire & Security Ltd in a seven figure transaction which sees CSS increase Turnover to over £9M per annum.
The acquisition supported by Clydesdale Bank Cashflow Finance will result in CSS customer base increasing to over 25,000 and positions CSS as the premier provider of security solutions in Central Scotland.
Serving both the commercial and residential sectors CSS provides a comprehensive range of products and services which allow customers to fulfil all their security requirements with a single provider. 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.
Paul Connelly, Managing Director, 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 eighteen years. I was delighted to receive the continued support of Clydesdale Bank who we have worked with for over thirty years which enabled the acquisition terms to be agreed quickly and completion achieved in a short timescale”
Mark Young, Director, SME Cashflow Finance, Clydesdale Bank said “having worked with CSS for some time, their commitment to deliver the optimal customer experience at every interaction is something which they truly deliver. This has resulted in a number of acquisitions being made and successfully integrated into the CSS operating model creating strong sustainable cashflow which enabled an acquisition of this size to be funded via our Cashflow Finance offering.”
David MacKay, previous owner of AFA Fire & Security Limited will continue to be involved in the business in the short term to ensure a smooth transition of ownership. David’s time commitment will be much reduced allowing him to maximise time with his family to enjoy the fruits of his labours.
The acquisition will not result in any reduction in workforce and will see the total number of CSS employees increase to 130 and with continued growth new opportunities are expected to be created in the future.