A Rochdale manufacturer of body-worn cameras has secured a 拢30 million investment from mid-market private equity firm LDC for a minority stake in the business.听
Wireless CCTV 鈥� known as WCCTV 鈥� celebrates its 20th anniversary in 2021 and specialises in providing听redeployable听CCTV, site security, body worn cameras and time-lapse video services.听
The partnership with LDC will be used to accelerate WCCTV鈥檚 ambitious domestic and international expansion plans and support the launch of new products and services.听听
LDC is backing the incumbent management team, led by chairman and founder Tim Williams and CEO David Gilbertson.听
Under their leadership, WCCTV has successfully established a footprint in the US, opening its office in Texas in 2015, and invested significantly in new product development that has helped the business achieve its market leading position.听听
The deal will see Ian Burnett join WCCTV鈥檚 board as a non-executive director. He brings over 30 years鈥� experience in supporting the growth strategies of multi-site businesses听听
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The investment was led by LDC鈥檚 head of the North West, Dale Alderson, alongside investment director Richard Ibbett and Grant Goodwin. Dale and Richard will also join the board as non-executive directors as part of the deal.听
鈥淥ver the past 20 years we have built our reputation as the go-to for rapidly deployed and听redeployable, surveillance solutions,鈥� said Williams.听听
鈥淚 would like to thank our dedicated workforce and accomplished management team who we believe will deliver the next stage of our exciting growth strategy.听听
鈥淲ith LDC鈥檚 backing we have an opportunity to scale at pace, further enhance our product range and extend our footprint both in the UK and overseas.鈥澨�听
WCCTV has seen significant growth in its workforce and turnover on the back of increased demand for its rapid deployment CCTV towers and 4G HD dome cameras.听
The听North West听business has also seen significant growth in demand for its body worn cameras, which are already been used by traffic wardens, retail security guards and other frontline staff.听
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Dale Alderson, head of the North West at LDC, said: 鈥淭he team at WCCTV has successfully built a business in a high-growth market, with a truly customer-centric product range that has supported its growth in the UK and America.听听
鈥淲ith our support, the business has the perfect platform to grow even further by adding new innovations and specialisms to their range. We鈥檙e excited to partner with them at this key stage in their journey.鈥澨�听
Cllr John Blundell, an RDA board member and Rochdale Council cabinet member for Regeneration said: 鈥淭his is tremendous news for WCCTV and LDC鈥檚 investment reflects the wider business confidence in Rochdale. WCCTV has seen huge growth in recent years and I鈥檓 sure the new funding will enable the company to continue its global expansion.鈥澨�听
Founded in 2001, WCCTV has three offices across the UK, with locations in Edinburgh and Luton alongside its Rochdale headquarters, with a fourth base in Texas, United States. The firm has a strong track record and has grown revenues by more than 50 per cent in the last three years to 拢14.1m in the financial year end 31 July 2020.听听听
WCCTV was recently named as one of the London Stock Exchange鈥檚 1000 Companies to Inspire Britain. WCCTV was advised by GCA Altium and听Addleshaw听Goddard.听听
LDC was advised by KPMG and Squire Patton Boggs. EY provided financial due diligence, CIL provided commercial due diligence and听Intechnica听provided technical due diligence.听