Riverside acquires Netwatch and NMC to create new group

The GP has also acquired US company National Monitoring Centre (NMC) and will merge the two businesses to form Netwatch Group, which will be headquartered in Carlow, Ireland. As part of the deal, the newly consolidated group has bolted on UK-based Onwatch and US-based CalAtlantic, both of which provide remote monitoring services.

Once the group has established itself and expanded across the European and US markets, it will look to pursue further international expansion, according to a statement.

The deal comes two and a half years after Irish publication Sunday Independent reported that Netwatch was considering an IPO with a mooted valuation of up to €250m. Riverside invests in companies valued at up to $400m.

As part of the transaction, Xtralis founder Samir Samhouri will take on the role of chairperson at Netwatch Group.

Debt
Bank of Ireland provided a debt package to support the transaction.

Company
Headquartered in Carlow and founded in 2003, Netwatch designs, installs, monitors and maintains CCTV security systems.

NMC was founded in 2001 and is headquartered in Lake Forest, California.

People
The Riverside Company – Martin Scott (partner); Laura Dillon (principal); Marc Baudry (senior associate); Desmond Collins (associate); Nandor Hajdu (analyst).
Netwatch Group – David Walsh (CEO).

Advisers
Equity – Jones Day (legal); Matheson (legal); Eagle Point Partners (financial due diligence); Grant Thornton (financial due diligence); KPMG (financial due diligence); Deloitte (tax).

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