CCTV firm snaps up rival with £10m deal

From the archive, first published Monday 26th Sep 2005.

A WARWICKSHIRE-based company whose CCTV systems played a role in gathering information on the London bombers has captured a rival business in a £10m deal.

The all-share offer will see Quadnetics, based in Studley, take over Watford-based security specialist Protec, whose customers include the Ministry of Defence and oil giant BP.

The take-over will strengthen the company's hand in clinching deals to fit more surveillance systems in prisons and high-security government buildings.

Quadnetics installed CCTV cameras and video network around the City of London just before terrorists set off four bombs in the capital on July 7.

It also has contracts to supply CCTV in the West End of London, Sheffield city centre and the city of Manchester.

Many of its systems for local authorities and commercial customers are supplied by its Nottingham-based Quadrant Video Systems business.

In addition, it develops CCTV systems for extreme or hazardous environments such as oil rigs at its Coex business, which is based at Brigg in Lincolnshire. Quadnetics has further sites at Sheffield, Poulton-le-Fylde in Lancashire, and in California.

Chairman David Coghlan said: "We expect the benefits of increased scale and focused management to add considerably to the future growth and competitiveness of both businesses."

Nearly two-thirds of shareholders in Protec have already agreed to back the deal.

Philip Parker, chairman of Protec, said: "The board has recognised for some time the benefits we could achieve from combining with a similar business."

Archive Home