Case Study: Christie Intruder Alarms Ltd
- Deal size:
- Company Sales
- Security & Remote Monitoring
- Deal completed:
- January 2017
Meridian advised the shareholders of two Waterlooville based companies with common shareholdings on their combined sale to US based Stanley Black and Decker Inc.
Christie Intruder Alarms Limited (“CIA”) provide fire and security services, whilst Southern Monitoring Services Limited (“SMS”) are the largest independent monitoring services provider in the UK.
The sale will enable Stanley Black and Decker to penetrate a market with high barriers with an established asset, whilst facilitating the retirement of many of the shareholders.
Steve Kimber, former Shareholder of CIA and SMS comments, “I would just like to express my sincere thanks for the professional manner in the way the Meridian team conducted themselves during the recent sale of our businesses.
We engaged Meridian’s services as far back as March 2015 with view to bringing one of our businesses to market in September 2015 and after protracted negotiations with a third party this did not proceed and we disengaged with said third party in 2016. Meridian remained extremely positive throughout this process, by meeting the individual shareholders needs and expectations and by July 2016 another suitor was found, but this time for both our businesses! After the NDA’s were signed and due diligence had taken place the sales were completed in a 5-month period and the consideration paid exceeded the expectations of the shareholders.
The former directors and shareholders were extremely pleased with their decision to use the “boutique” services of the Meridian team and full credit to Michael Barcia, Daniel Kirtley and the rest of the team at Meridian for achieving an excellent result in such a short time frame.”
Portsmouth based Verisona Limited provided legal advice to CIA and SMS.