Maven exits Camwatch in trade sale

Core made a 2.4x return on its initial mezzanine investment, which was used to install CCTV towers in new locations.

VPS stated that Camwatch's technology would provide additional security to its current manned guarding business at vacant properties.

PAI acquired VPS Holdings in June this year from former owner TDR Capital. It invested via its PAI Europe VI Fund, which held its first close at the start of 2014 on €1.4bn. The fifth transaction from the vehicle was reported to be worth around €150m.

VPS is headquartered in Hertfordshire, with further operations in Paris, Berlin, Turin and Chicago. It employs 1,500 staff, 900 of whom are in its European division, which is spread across 50 locations in France, the Netherlands, Germany, Italy, Spain, Ireland and the UK. VPS sees 50% of its revenues stem from the UK, while France contributes 35% and the Netherlands creates 10% of turnover.

Previous funding
Maven Capital Partners, formerly Aberdeen Asset Managers Growth Capital before spinning out in 2009, backed the BIMBO of Camwatch in March 2007. The £6.8m package comprised both equity and debt funding provided by Barclays and RBS.

A year later, Core Capital injected mezzanine financing into Camwatch in order to bring the company's rapid deployment tower to market.

Company
Headquartered in Sheffield, Camwatch provides construction sites and remote areas with CCTV. It also manufactures an ATM locking bar, currently in use at 4,000 UK cash machines, supported by a remote video response centre that operates every day of the year. It claims to monitor 20,000 cameras.

Founded in 1993, the company has 77 employees.

People
James Smallridge is investment partner at Core Capital. Mark Silver is CEO of VPS. Phil Bunting is director of sales and technology at Camwatch.

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