ON-SITE CCTV SECURES INVESTMENT
Camwatch plans expansion with private equity backing
22nd May 2007 – Despite being available for only a few months, Camwatch can already count most of the UK’s largest construction companies1 as customers for its unique site crime prevention service. This positive endorsement has been a key factor in attracting a multi-million pound investment from private equity firm Aberdeen Asset Management, which will be used to fund the company’s growth in the sector.
Site theft and vandalism are estimated to cost the construction industry more than one million pounds a day in lost profits. Security guards are the traditional solution, but with costs rising from increased regulation and minimum wage legislation, many builders are looking for an alternative. Camwatch have responded to the challenge and developed a technology-based surveillance service that never sleeps, looks in multiple directions at the same time, is immune to coercion or bribery, and is ~70% less expensive compared to the cost of a security guard!
Designed specifically for the construction industry, the lynchpin of the new service is the CamwatchTOWER™, a fully integrated telescopic assembly that contains everything required to establish effective CCTV monitoring of a building site. It incorporates a plethora of advanced technologies including body-heat detectors, high-resolution cameras, night vision infrared illuminators, a public address system, a digital video recorder and a back-up power supply. Completely self-contained, it needs no fixing points, no phone lines, just power, and can be operational within a couple of hours.
The system uses 3G wireless broadband networks to transmit live CCTV incidents to a state-of-the-art national control room, staffed by Camwatch’s own highly trained personnel. The technology enables operators to control pan-tilt-zoom cameras for the clearest possible view, review recorded video to determine exactly what happened prior to the incident and challenge intruders via the public address system connected over the same network.
The service is also finding favour with the Police, who report that 95% of alerts from traditional systems are false alarms2. The Camwatch service is fully compliant to BS8418, a recently ratified British Standard drafted with input from the Association of Chief Police Officers (ACPO) specifically to address the problem of wasted resources. All incidents passed from Camwatch are confirmed as needing priority Police response, and with the Police fully briefed beforehand, they can act immediately and with authority on their arrival.
“We are very excited about this opportunity”, said Phil Bunting, Camwatch’s Managing Director. “We have invested more than £1.5m in recent years to develop a unique product and a central station infrastructure that is second to none, one that exceeds the demanding requirements of the latest regulation and has the capacity to handle the company’s anticipated growth. This latest investment will allow us to increase our penetration of the construction industry with ‘all in’ monthly rental options and zero up-front cost.”
The investment by Aberdeen Asset Management Growth Capital was led by Andrew Ferguson, who commented: “With our investment in Camwatch we have backed a management team which has considerable experience and skill in growing successful technology companies. Camwatch’s offering provides a significant advantage over traditional security services and products, and we look forward to helping the team to further develop the company, and exploit the opportunities in the construction sector.”
The public focus on Health & Safety issues has never been higher. High quality, remotely accessible CCTV allows authorised managers to assess on-site safety policy compliance quickly and efficiently, and can be an invaluable tool in accident investigations.
1 As defined by “The European Powers of Construction 2006”, Deloitte & Touche LLP
2 Association of Chief Police Officers (ACPO)
Notes to Editors
For more information, please contact:
Camwatch: Chris Boyce 0114 281 9999 / 07973 453621
AAM Growth Capital: Andrew Ferguson 0121 236 1222
Camwatch, the UK’s largest commercial CCTV monitoring company, provides a comprehensive suite of managed services that actively prevent crime at our clients’ facilities. Benefits include more effective security solutions, safer environments for staff & customers and considerable savings in facilities budgets.
Aberdeen Asset Managers Private Equity Division (AAMPE) is a division of Aberdeen Asset Managers Limited, authorised and regulated by the Financial Services Authority. The division has total funds under management of £245 million (as at 31 March 2006), comprising limited partnerships, an investment trust, venture capital trusts (VCTs) and several segregated portfolios. The business operates from seven UK based offices in Aberdeen, Birmingham, Glasgow, Inverness, Leeds, London and Manchester.
Aberdeen Asset Managers Growth Capital, part of AAMPE, focuses nationally on providing equity funding for smaller companies valued at up to £10 million throughout the UK, investing from a range of client funds, including VCTs, Investment Trusts and a number of specialist Investment Companies.
