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Mishcon de Reya Private Equity advise Spy Alarms on investment by Phoenix Equity Partners

Posted on 7 September 2020

Mishcon de Reya Private Equity has advised the management team of Spy Alarms, a leading UK provider of electronic security and fire services, on a majority investment by Phoenix Equity Partners. Phoenix has invested alongside Spy Alarms Founder and management, led by Tom Howard, CEO, who has made a substantial reinvestment in the company as part of the transaction. 

Founded in 2012 by Tom Howard and Simon Beart, Spy installs, maintains and monitors intruder alarms, CCTV, fire safety systems and access control systems. The company has grown strongly through a combination of organic and acquisitive growth.  The business now has over 30,000 customers, 70 engineers and has completed 16 acquisitions to date.

Tom Howard, CEO of Spy Alarms, said: “We chose the Mishcon Private Equity Team due to their market knowledge, all-round expertise and, crucially, their independent perspective. Nadim and his team were a fantastic sounding board throughout the process offering sage and pragmatic advice as required. Despite interruptions from current conditions, Mishcon navigated each element of the management equity advice seamlessly.”

Nadim Meer, Head of Private Equity at Mishcon de Reya who led the transaction, added: "Our management advisory expertise enabled us to quickly adapt to the complexities of this transaction and negotiations with multiple bidders, securing a strong package of terms for Tom and the team. This transaction proves that a sound business with a strong management team such as Spy can overcome the challenges presented by COVID and emerge as an even more investable proposition. I am looking forward to witnessing the continued growth of Spy with further exciting opportunities still to come for the business."

Nadim headed the Mishcon Private Equity team which included Sam Perkins, Remy Browning, Natasha Bassett, Elena Georgiou, John Skoulding and Margarita Elia.

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