Dains Corporate Finance provides due diligence services on Churches Fire and Security acquisition

Deal summary

The Dains Corporate Finance team has recently performed financial due diligence on Apollo Alarms Limited for the purpose of the acquisition of this company by Churches Fire and Security Limited (Churches), with funding provided by Horizon Capital.

In November 2022 Churches purchased the new business to further enhance their offerings and increase their market share whilst continuing to grow their national locations year on year. This acquisition firmly supports the business strategy of becoming the UK’s most comprehensive fire safety and security provider.

Cardiff based Apollo Alarms Limited was formed in 1991 with an initial focus on vehicle alarms. The company experienced a shift in focus towards intruder and fire alarms in 2001. The services currently provided include fire safety, CCTV, door access control, electronic gates and barriers, emergency lighting, intruder alarms and monitoring services.

Our Role

Roy Farmer, Rob Wilson and Kam Atwal undertook financial due diligence on Apollo Alarms Limited.

Our work included a review of the historic financial performance, as well as a quality of earnings review, normalised working capital, and surplus cash/net debt calculations.