The Challenge

Founded in 1977, Security Plus has grown into one of the UK’s leading cash collection, cash processing and manned guarding services provider. The family run business today manages approx. 3,500 live contracts, serving a variety of clients, including local and national retailers, local authorities, and financial institutions. Following its strong growth story to date, the firm was seeking an experienced, local lender, who could deliver a bespoke funding package that could support its next phase of growth.

Opportunity & Outcomes

We completed an £8M transaction with the firm to fund a share repurchase for the shareholders of Security plus. The structured finance facility was completed quickly and transparently, with the firms leadership group very much appreciating this. Commenting on the transaction, the Chairman of Security Plus, said, “We approached OakNorth Bank as we found the high-street banks we spoke to were dragging their heels, whereas the team at OakNorth Bank was incredibly responsive and proactive. The share buyback represents an exciting next step in the company’s journey and its prospects for the future.”