Clearwater has advised Churches Fire & Security Ltd (Churches Fire), a portfolio company of Horizon Capital (Horizon) and provider of fire and safety and security compliance services, on a €88m (£75m) refinancing transaction to support the business with its continued acquisitive growth plans.
Churches Fire delivers a full range of fire safety and compliance services to over 15,000 commercial customers, from fire risk assessments to maintenance services as well as monitoring of detection, containment, evacuation and electronic security systems.
The funds will be used to support the continued acquisitive growth in the fire safety and security market in the UK, with Churches Fire having acquired 14 businesses since Horizon’s investment in 2017, including two recent acquisitions.
The refinancing was provided by HSBC UK Bank, HSBC Asset Management, NorthLeaf Capital and Siemens Bank, who will provide further committed capital for future acquisitions.
