Growth planned at Secure One
Leicester-based security business Secure One is planning to grow by 16 per cent over the next two years. It follows a management buyout (MBO) using a loan from Lloyds TSB Commercial.
The company, which has a £4m turnover, employs 46 engineers and designs, installs and maintains electronic security equipment for domestic, commercial and industrial premises across England.
It was founded in 2000 following a MBO of the security activities within East Midlands Electricity (part of Powergen), which had been installing security systems for more than 25 years. Lloyds TSB Commercial provided the required finance package so the two remaining owners of the business, Ian Bass and David Stones, could buy out the retiring third owner.
It says it plans to grow by building on its presence in the commercial sector and servicing a higher number of contracts for blue-chip clients.
Ian Bass, director at Secure One, said: “The buyout was our opportunity to re-assess our plan of action for the business. Unfortunately, recent economic conditions created a challenging environment for the industry, which has made us even more determined to fortify the firm and diversify our offering.
“The demand for security installations is higher than ever and we plan to meet this growth by continuing to offer the best possible service to all of our customers.
“With the support of Lloyds TSB Commercial, we were quickly able to secure the funding we needed to complete the buyout and focus on continuing to grow the business.”
