Mid-market private equity firm Bowmark Capital, has backed the £32m management buy-out of CSL DualCom, a Harefield, UK-based large provider of dual-signalling products and services for intruder alarms, from Octopus.
Bowmark Capital provided £13m of equity, acquiring a majority interest in the company, while Octopus continues to support CSL through debt financing (it has extended its debt facilities to £10m).
The investment is expected to support the company in continuing to expand in existing and new markets.
Co-founded in 1996 by managing director Phil Hollett and commercial director Simon Banks, CSL currently manages the signalling for over 125,000 intruder alarms located in commercial, retail and residential premises across the UK.
These are connected to alarm receiving centres via its proprietary communications network, which it has developed in partnership with Vodafone.