Churches Fire, the Horizon Capital-backed provider of fire safety and security compliance services, has undertaken a significant refinancing with HSBC UK Bank and HSBC Asset Management, NorthLeaf Capital and Siemens Bank to provide further committed capital for future acquisitions.
The funds will be used to support the continued acquisitive growth in the fire safety and security market in the UK, with Churches Fire having acquired 14 businesses since Horizon’s investment in 2017, including two recent acquisitions.
Churches Fire delivers a full range of fire safety and compliance services to over 15,000 commercial customers, from fire-risk assessments to maintenance services as well as monitoring of detection, containment, evacuation and electronic security systems.
Churches Fire appointed Clearwater International as advisers on the transaction.
Charlie Haynes, CEO of Churches Fire & Security, said: “We have been delighted by the response to our strong growth in compliance-driven markets during the refinancing process. The funding solution enables Churches Fire to continue its successful buy and build strategy. In the coming months, we expect to complete a number of further acquisitions from a strong pipeline.”
Adam Lewis, Churches Fire non-executive and Horizon Capital Partner, said: “The refinancing with support from HSBC UK and its partners enables Churches Fire to continue on its journey towards becoming the largest independent fire safety and security compliance services group in the UK.”