Lanarkshire Based Security Services Company Receives £100K Loan As Part Of Funding Package To Undertake Management Buy-Out
21 May 2020
Founded in March 2020, Secureshield was formed as a result of a management buy-out of Scottish security company, Securus Group.
Providing fire, security, life safety and technology enabled care services (TECS) across Scotland and the North of England, Secureshield Ltd has been able to safeguard 51 jobs during the management buy-out process and will continue to provide its services to clients across both public and private sectors.
Securing funds to support the buy-out through their Business Bank and input from the Directors, the team at Secureshield turned to Business Loans Scotland to obtain their final batch of funding and successfully applied for, and received, a £100,000 loan.
Providing loan finance from £25,000 to £100,000, Business Loans Scotland (BLS) is the Fund Manager for a £7 million loan fund which seeks to invest in new and growing Scottish SMEs.
Fully funded through the Scottish Growth Scheme and European Regional Development Fund (ERDF), the loans issued through Business Loans Scotland provide SMEs with access to finance which can be used for various purposes including but not limited to, raising working capital, investing in office premises, recruiting new employees and introducing new product lines.
Issuing loans totalling in excess of £3,500,000 to 55 Scottish businesses to date, Business Loans Scotland aims to ensure that commercially viable proposals do not fail from a lack of access to finance.
Speaking of the loan received, John Hunter, Director of Secureshield said:
“Our overall plan with the Management Buy Out was always to secure this type of funding however when we were introduced by Scottish Enterprise to Business Loans Scotland we couldn’t have asked for a better partnership. The straightforward clarity of the transaction and business growth understanding shown by BLS helped ease us through the MBO and put us in a more comfortable position to deal with other associated challenges. This support enables us to move quickly in our stabilisation and growth planning in a demanding market.
Andrew Dickson, Fund Manager of Business Loans Scotland added:
“I am delighted that Business Loans Scotland has been able to support Secureshield with a £100,000 loan to undertake a management buy-out and safeguard an amazing 51 jobs. This is a prime example of how loan funding can help keep businesses alive in Scotland and with the Director’s sights set firmly on growth and success, I look forward to seeing this business flourish in the coming months.”