Status:

Current

Commitment:

£28m

Date of investment:

2017

Sector:

Business Services

Buy & Build:

18 completed acquisitions 

“Horizon Capital’s experience in supporting buy & build in business services companies will enable us to build scale and diversify our offering.”

Paul TopleyFounder, Churches Fire

Background

Churches Fire is a nationwide UK provider of fire safety and security compliance services based in Southampton. The company delivers a  full range of fire safety compliance services to over 13,000 commercial customers from fire risk assessments to maintenance services as well as monitoring of detection, containment, evacuation and electronic security systems.  

Horizon Capital identified a unique opportunity to build a scaled independent fire and security services provider in a compliance driven market that was highly fragmented with small, independently owned businesses.

Horizon Capital invested in the business alongside its founder in July 2017. A buy and build strategy was initiated, which has enabled Churches Fire to broaden its range of services and expand its operational footprint across the UK.

The Journey so far

Following Horizon Capital’s investment, Churches Fire has tripled in scale with annual revenues of over £40 million. The business now serves over 13,000 B2B customers nationally, with a broader service offering and a focus on recurring maintenance services. It is now one of the largest independent UK platforms in the fire and security market.

Over the last three years, Horizon Capital has worked closely with the team to build management succession and invest for growth, with a full Executive team now in place. It has also invested in systems and technology to support rapid growth, and has built out a commercial sales and marketing team.

The service offering has broadened to incorporate other aspects of fire safety including suppression systems, sprinkler servicing, and electronic security system maintenance.

Buy and Build

Since the investment from Horizon Capital, Churches Fire has completed and fully integrated 18 add on acquisitions, accelerating the pace and scale of M&A activity. The business remains highly acquisitive against the backdrop of a large fragmented market.

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