• Acuity advises The Clearway Group on significant financing round

    INVESTMENT

3rd September 2021, London, UK – The Clearway Group (“Clearway” or the “Group”) is delighted to announce a significant growth capital investment from a consortium of institutional investors led by Next Wave Partners (“NWP”). Acuity Advisors’ Andy Lister, Marcus Allchurch and Hazel Hartley advised Clearway and Business Growth Fund (BGF) on the transaction.

Headquartered in London, Clearway is a leading commercial security services provider specialising in securing vulnerable properties or assets. The Group delivers solutions that are tailored to their customers’ needs, utilising an extensive range of specialist services integrated with market leading technology. The Group’s critical technology-led security solutions include CCTV and alarms, to monitor, secure and protect properties and assets. Employing 230 people, the Group has nationwide operations across the UK and France.

Over the past four years, Clearway has completed five acquisitions, grown revenues at a CAGR of c.14% and developed a full range of security solutions across the UK and France. Through its acquisition of Protim, the Group now provides national coverage in France and has established a leadership position across the French residential and commercial property sectors. The Group has seen an increase in demand for its services, including demand for technology-based solutions, focused on keeping customers’ vulnerable properties and assets safe and secure.

The consortium is backing CEO, Ian Quinlan and his team, and as part of the transaction, incumbent lender Kartesia has agreed to increase its growth financing facilities to the Group.

This investment has provided significant expansion capital for the Group, reduced its debts and provided an exit for growth capital investor BGF, which invested £10 million in the business in 2018, followed by a further £1 million in 2019, to support Clearway’s acquisitive growth strategy. NWP has led the investment in Clearway, alongside Clearway management and institutional investors the William Pears Group, Fiera Comox and Fiduciary Co-Investment Partners.

In addition to focusing on continuing organic growth, Clearway has a strong pipeline of acquisition opportunities in the UK and European market which it plans to pursue during the next stage of its growth.

Ian Quinlan, CEO, said: “Our experience with Andy and the Acuity team has been excellent. We chose Acuity on the basis of our long-standing relationship and their understanding of the technology-enabled services sector. Acuity worked tirelessly with all the stakeholders to get the deal over the line successfully – with Next Wave and Kartesia’s investment, we look forward to the next wave of Clearway’s growth in the UK, France and across Europe.”

Andy Lister, Partner at Acuity Advisors, said: “We are pleased to have worked with the Clearway team, BGF and Next Wave Partners on this important transaction in the technology-enabled security solutions space and wish Clearway every success during the next phase of Clearway’s growth story.”

Advisors to the deal included:

  • Clearway and BGF were advised on the deal by Acuity Advisors (Corporate Finance), DLA Piper and Alternative Advocats (Legal), RSM Corporate Finance (Financial due diligence), Deloitte (Tax Due Diligence) and CMS Cameron McKenna Nabarro Olswang LLP (BGF Legal)
  • Next Wave Partners were advised on the deal by Gateley, Macfarlanes LLP and Klein Wenner (Legal), Mazars LLP (Financial and Tax Due Diligence), FRP Advisory (Debt Advisory), Drystone Strategy (Commercial Due Diligence), Seedcloud Advisory (IT Due Diligence), and Cornerstone Funds Placement
  • Kartesia were advised by Osborne Clarke (Legal)

“Our experience with Andy and the Acuity team has been excellent. We chose Acuity on the basis of our long-standing relationship and their understanding of the technology-enabled services sector. Acuity worked tirelessly with all the stakeholders to get the deal over the line successfully – with Next Wave and Kartesia’s investment, we look forward to the next wave of Clearway’s growth in the UK, France and across Europe.”

IAN QUINLAN | CEO
Clearway

Team Members

THOUGHTFUL SUB HEADLINE GOES HERE.

Andy has spent the last ten years advising entrepreneurs, shareholders and boards on business sales, acquisitions, equity fund raisings, valuations and strategic reviews. Andy has worked with clients in a number of technology-enabled sectors, including smart infrastructure, the internet of things, M2M communications and clean technology, and has also worked with a number of high growth manufacturing and industrial distribution businesses.

Andy has a particular interest in cross border M&A, has completed deals with North American, European, African and Asian counterparties, and brings practical emerging markets experience having worked as an M&A advisor in India from 2008 – 2010.

Andy is a prize-winning chartered accountant, qualifying in 2004 with KPMG in Leeds, before joining KPMG’s Corporate Finance team in London in 2005. Andy was a Director at KPMG before joining Acuity in July 2015.

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