FURTHER FUNDING FOR INNOVATION & GROWTH |
02/06/08 - Camwatch adds new investor
Camwatch has announced that it has completed a second round of private equity funding. Specialist investor Core Capital LLP has invested £1.25 million to help the company exploit its leadership position in the monitored CCTV market.
Camwatch has grown steadily since its formation in 1993 to become Europe’s largest commercial CCTV monitoring company. In the past twelve months, turnover has increased markedly from £2.6 million to its current figure of £3.9 million. Much of the recent growth has been achieved in the construction sector where Camwatch’s unique rapid deployment offering allows companies to more than halve their site security costs. The latest investment will be used to fuel the expansion in this area.
Phil Bunting, Managing Director, Camwatch said: “The timing is perfect. The slowing economy is forcing construction companies to look for savings across all of their activities, and we can not only improve their security, but halve their costs as well. The additional funds will allow us to really push on and build on the excellent start we have made”.
Walid Fakhry from Core Capital has joined the Camwatch Board. He commented, “Camwatch represents an attractive opportunity for the Core funds to invest in a market player with significant growth potential, but has a proven track record of consistently growing its installed customer base. Camwatch has an interesting business model overall; both its remote monitoring services and novel RDT system have allowed Camwatch to fully support its clients’ needs at the same time as maintaining good margins.”
This latest cash injection follows a previous £2.2million round of funding from Aberdeen Asset Management in April 2007, which has been used to develop the company’s crime prevention capabilities in several sectors.
Core Capital LLP
Core Capital was set up to take advantage of the opportunity that now exists to invest in small to mid-size private companies, typically valued at £10 to £30 million. Core has £65 million funds under management and has now completed 9 investments since starting its investment programme in 2005. Core does not charge a management fee and its members are the largest investors in the funds they manage, aligning their interests with those of investors and creating the right incentive to maximise returns.
Core Capital LLP is Authorised and regulated by the Financial Services Authority.
