Securus Group snaps up Walsall business
Nottingham-based security systems provider The Securus Group has acquired a company in Walsall with support from NatWest.
Lyrico Systems was purchased by the group, which comprises companies that design, install and maintain electronic security systems, for an undisclosed sum.
Securus said the acquisition will allow it to further develop its expertise in fire safety.
Group managing director Stuart Glover said: "The acquisition for Lyrico Systems will allow The Securus Group to continue developing its fire security services, which are a key growth sector for us, and we will look into further acquisitions within this market in the months ahead."
The deal was supported by a multimillion-pound funding package from NatWest. The bank has a long relationship with Securus after it backed Glover in a buyout in 2008, leading to the creation of the company. Securus now employs more than 250 staff across the UK.
Glover added: "NatWest has backed us as we continue to grow our portfolio and we have an excellent relationship with the bank."