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UK - Barclays Ventures generates 3.5x return on fire services exit

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Barclays Ventures and management have sold SFS Fire Services Limited to UTC Fire & Security, a business unit of US-based United Technologies Corporation. Although the enterprise value of the company was not disclosed, the exit enabled Barclays Ventures to realise a 3.5x return on its original equity investment in less than 18 months and an IRR of over 140%.

SFS Fire Services, which primarily operates under the Hall & Kay and Central Fire Protection brands, is a fixed fire protection business. Barclays Ventures backed the management to purchase the business for £18.5m in September 2005. Since then the business has grown organically across its UK sites in Birmingham, Glasgow, Portsmouth, Manchester, Warrington, Ware and Windsor as well as through its detection division. SFS Fire Services also opened a South West operation in 2006 and set up new initiatives focused specifically on the distribution sector and non-water based fixed fire protection systems.
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