Cooper Parry Corporate Finance has advised on the sale of a company which provides complete software solutions to plumbers, builders and timber merchants.
Border Merchant Systems Limited has been acquired by Shuttleworth Business Systems Limited for an undisclosed sum. Border was sold by a conglomerate of national merchants who used the internally developed CounterAct software to run their businesses.
David Pochin, Director of Border, said the new ownership will further allow the development of the Counteract software which is vital to a large number of independent merchants.
He said: "Being part of a larger specialist software business in Shuttleworths will expand the service offering, and facilitate the roll out of the software into new markets.
“It means we will be better positioned to innovate at an accelerated rate and achieve a higher level of growth as we will now be exposed to other market sectors.
“We want to thank all the team at Cooper Parry Corporate Finance for their help, they certainly made the transaction as smooth as possible.”
AIS was founded by Paul Douglas and Mike Baines in 1989 and provides integrated electronic security solutions including CCTV, intruder, access control and fire detection systems to the commercial, retail, corporate and leisure markets. AIS will continue to operate under its name as part of the deal.
Cooper Parry Corporate Finance, originated and led the transaction. David Browne, corporate finance partner at Cooper Parry said: “Strategically the fit between AIS and Goldshield is excellent both from a geographic and an operational perspective.
“The acquisition will enable AIS and Goldshield to benefit from each other’s strong position in their respective markets and yield significant growth for the combined group.”
Goldshield specialises in the design, installation and maintenance of social alarms, security systems and fire and emergency lighting systems. The head office is based in Newcastle with further offices in Glasgow, Edinburgh, York and London.
Stuart Glover, managing director and owner of the Goldshield group, said “AIS’s positioning in the electronic security market complements Goldshield’s existing expertise in fire detection and warden control systems.
“Goldshield’s aim is to become the UK’s leading independent provider of fire and security systems to the commercial marketplace, and the acquisition of AIS is another step in establishing this position. AIS is the Goldshield group’s third acquisition in two years and we continue on an ambitious growth plan”
Legal advice was provided by David Tilly and Jenny Allen of the corporate team at Geldards.
David Tilly said: “We have been delighted to work with AIS alongside Cooper Parry on this transaction; the sale has benefitted not only the shareholders of AIS, but also their customers and the industry.”