Foresight invests £2m in BIMBO of PRC

Capital for the transaction was drawn from three VCTs: Foresight VCT, Foresight 3 VCT and Foresight 4 VCT.

Most recently, Foresight invested £500,000 in Nottingham-based app-building platform AppInstitute. It also sold its stake in Orthoview, a provider of orthopaedic templating for surgeons, to Belgium-based Materialise for £8.47m in October.

Company
Founded in 1997 and headquartered in Dumfries, PRC is a security company providing CCTV monitoring services, in addition to alarm and door entry systems. The business's clients include supermarket chain Tesco, fast-food business KFC and UK betting shop William Hill.

People
Darrel Connell, a director at Foresight, will take a seat on the board at PRC. Ian Hobson and Patricia Hobson are co-founders of PRC.

Following completion of the deal, former Maplin Electronics managing director David Whittle will take on the role of PRC's CEO. The business will also appoint Geoff Zeidler, a previous managing director of Securitas, as non-executive chairman.

 

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