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Advising VPS on the acquisition of Evander Glazing & Locks

Posted on 04 March 2016

Advising VPS on the acquisition of Evander Glazing & Locks

Mishcon de Reya LLP has advised VPS, a portfolio company of PAI Partners, on the acquisition of Evander Glazing & Locks, the nationwide 24/7 emergency response and repair provider of glazing and locks. VPS site security and property services specialists has acquired Evander from Bridgepoint Development Capital (BDC) and Lloyds Development Capital (LDC), which have co-owned the business since 2011. 

Headquartered in the UK, the VPS Group leads the European vacant property services market, providing specialist solutions across the complete property lifecycle, as well as offering a wide range of services covering remote sites and occupied property.  Its activities cover security solutions, including its award-winning SmartAlarm® product range, CCTV, steel screens, manned guarding and live-in guardians; and property management activities, namely clearing, cleaning, waste disposal, maintenance and grounds services. It has a national network of 20 depots in the UK and operations across mainland Europe including France, The Netherlands, Germany, Spain and Italy. VPS has more than 1,100 employees, with 750 based in the UK.

Commenting on the acquisition, VPS Group CEO Mark Silver said: ‘Evander’s excellent reputation for providing responsive security services is a great fit to our market-leading property security and services business.  With very similar customer requirements and challenges, we are confident that by working together we can expand both our operational spread and develop into new segments, as well as being able to enhance our services offering to our shared customer base. We look forward to working with the Evander team to expedite this.’

The Mishcon de Reya Corporate team was led by Partner Michael Nouril and Associate Sam Perkins with assistance from Associate Georgia Joseph. Specialist advice was provided by Partner John Skoulding and Associate Sarah Howes (Tax), Partner John England and Associate Nicholas Kirby (Real Estate), Associate Kate Astbury (Employment) and Associate Charlie Delaney (IP).

Commenting on the acquisition, Michael Nouril said: 'Our cross-departmental team worked together to complete this complex transaction within a demanding time frame. It was a pleasure working with VPS and PAI Partners on this transaction and we look forward to watching the continued success of the now enlarged business."