A Greater Manchester surveillance products company has secured a £30m investment from mid-market private equity firm LDC.
Wireless CCTV (WCCTV), which is headquartered in Rochdale, has said the minority investment will accelerate its domestic and international expansion plans and support the launch of new products and services.
The business provides wireless surveillance products including re-deployable CCTV, site security solutions and body worn cameras.
Its products are used by the infrastructure, utilities, retail, transport and construction sectors, as well as local authorities and housing associations across the 海角视频 and the US.
Founded in 2001, WCCTV has three offices across the 海角视频, with locations in Edinburgh and Luton alongside its Rochdale headquarters, with a fourth base in Texas, US.
Its revenue has increased by more than 50% in the last three years to £14.1m in the financial year end July 31, 2020.
As part of the deal, chairman and founder Tim Williams, as well as chief executive David Gilbertson, will remain in their posts.
The deal will also see Ian Burnett join WCCTV’s board as a non-executive director.
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The investment was led by LDC’s head of the North West, Dale Alderson, alongside investment director Richard Ibbett and Grant Goodwin.
Mr Alderson and Mr Ibbett will also join the board as non-executive directors as part of the deal.
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Mr Williams said: "Over the past 20 years we have built our reputation as the go-to for rapidly deployed and redeployable, surveillance solutions.
"I would like to thank our dedicated workforce and accomplished management team who we believe will deliver the next stage of our exciting growth strategy.
"With LDC’s backing we have an opportunity to scale at pace, further enhance our product range and extend our footprint both in the 海角视频 and overseas."
Dale Alderson, head of the North West at LDC, added: "The team at WCCTV has successfully built a business in a high-growth market, with a truly customer-centric product range that has supported its growth in the 海角视频 and America.
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"With our support, the business has the perfect platform to grow even further by adding new innovations and specialisms to their range. We’re excited to partner with them at this key stage in their journey."
Adam Sivner, director at GCA Altium, who advised WCCTV on the deal, said: "WCCTV is an excellent example of a leading North West based industrial technology company that has displayed continued international growth for a number of years.
"Its high-tech products are vital in protecting critical infrastructure in the 海角视频 and in the US.
"This latest backing from LDC will help the firm cement its position as a global leader in the field and we are excited to be on that journey with them."
LDC was advised by KPMG and Squire Patton Boggs. EY provided financial due diligence, CIL provided commercial due diligence and Intechnica provided technical due diligence.
WCCTV was advised by GCA Altium and Addleshaw Goddard.