PKF Francis Clark has advised Fortus Group, a leading B2B security distributor in the UK and Ireland, on its acquisition of Enterprise Security Distribution.
Enterprise is a supplier of security products to installers, with nine locations in Sheffield, Birmingham, Kent, Bristol, Manchester, Nottingham, Bedford, Bramley and Norwich. Founded in 1992, the group employs about 90 staff and has an 8,000-strong customer base.
Through this acquisition of the nine Enterprise branches, Fortus has expanded its footprint across England, as well as gaining access to new products through supplier distribution agreements.
PKF Francis Clark provided financial and tax due diligence on behalf of Fortus and Rockpool on the group’s acquisition of the nine individual entities making up Enterprise, with a combined turnover in excess of £40 million. Finance was provided by Rockpool Investments (London).
Sam Phillips, transaction services director at PKF Francis Clark, said: “It was a pleasure to work with Brian Honan, Mark Brophy, Andrew Moran and the Rockpool team on this complex assignment and to assist on this transaction, which will see the combined group benefit from significant coverage across England. Naturally, we expect the enlarged group to continue on its current growth trajectory, and we wish them the very best on the next stage of this journey.”
Phillips added: “This fantastic cross-border acquisition also demonstrates the PKF network working well together, as we worked closely with our colleagues at PKF O’Connor, Leddy & Holmes in Dublin to provide a seamless service to our clients.”
At the same time, Fortus has acquired Re:Sure Intelligence, a specialist remote CCTV monitoring service serving clients across Ireland and the UK.
Brian Honan, founder and CEO of Fortus, said: “Upon completion of both deals, Fortus will advance its strategy of becoming the largest security and fire supply chain business in the UK and Ireland, giving us the ability to offer our customers unrivalled support, expertise and monitoring solutions. We are delighted to welcome the outstanding Enterprise and RE:SURE teams to Fortus Group.”
Mark Brophy, CFO at Fortus, added: “These transactions represent a pivotal moment in the evolution of Fortus into the most cutting edge and forward-thinking business in the security supply chain sector. We are proud to enjoy the continued support of Rockpool Investments and AIB Corporate Banking to allow us to execute our buy-and-build strategy across the UK and Ireland.”