Management Buy In at Tyne & Wear Security Firm

Date Published: 3rd February 2009

£4m turnover Goldshield was founded by Grahame Shaw and Stan Johnston in 1986. Over the past 22 years it has grown to be one of the North’s leading companies in the supply, installation and maintenance of security devices and systems for care homes and assisted living premises.

The firm’s core business is installing remote personal alarm systems, such as Warden Call and Telecare, as well as door entry, CCTV and fire and security systems to protect the safety of residents and premises in public and commercial care facilities.

Glover has been backed by Royal Bank of Scotland and venture capital fund Infinity Asset Management to take ownership of the company and develop the business in the sector that has massive potential for growth.

The deal, structured by BTG McInnes Corporate Finance, sees the founders selling 100 per cent of the shares in the company in the cash deal but they will remain with the company as directors to support Mr Glover to assist with the planned growth of the business.

“Goldshield has a fantastic reputation for quality, reliability and service thanks in the main to the quality of our workforce and personnel, and this deal gives the business the best possible chance to grow and evolve over the coming years,” said Grahame Shaw

“After 22 years growing a business we are very proud of, we were approached by Stuart Glover and his backers who were looking to invest in building a business in this sector, and who identified our firm as the best strategic base from which to grow,”

“In many ways this will be business as usual, as both Grahame and I will remain in our roles to support Stuart as he comes into the firm. With the backing of RBS and Infinity, and the ambition of Stuart, we can see enormous potential for growth and opportunities for the business and everyone here, and the deal will open up a whole new chapter for the firm,” said Stan Johnston.

Shawn Bone of BTG McInnes, who advised the vendors in the transaction said: “Goldshield has developed a strong brand within its niche markets and installs the UK’s leading security products from leading manufacturers with whom the founders have developed excellent relationships. The deal represents a great opportunity for a fantastic business and North East success story to take the next step forward.”

Mark Irving from BTG McInnes also advised the vendors, and Peter Robinson of Muckle LLP law firm handled the legal work for the exiting founders.

Peter Robinson of Muckle LLP said “Goldshield's founders have developed a strong business over the last 2 decades. It's been great to work with Grahame and Stan and help them both take the business into the next phase of its growth with Stuart. The company has a great future going forward."

Goldshield currently employs 40 engineers and administrative staff from its base at Camperdown Industrial Estate in Killingworth, and as well as the thriving book of business that grew significantly last year.

About the author

Julie Palmer

Regional Managing Partner

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Julie is a law graduate who qualified with Price Waterhouse in 1994. Julie joined Smith & Williamson in 1997 and became a partner in 2001. With Mike Stevenson, Julie set up Middleton Partners offices in Salisbury and Southampton, both of which are now part of Begbies Traynor.

Julie is a member of the Insolvency Practitioners Association and is a Fellow of The Association of Business Recovery Professionals. Julie deals with all aspects of Corporate Recovery and turnaround work and takes all form of personal insolvency appointments.

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