A Walsall security firm has been bought by an expanding local rival in a deal that secures the jobs of all its 60 staff, it was revealed today.
Roscot Security, based in Short Acre Street, has been bought by Solihull company Integrity Security Group in a move to strengthen its customer base in the West Midlands.
All 60 staff and existing contracts have been maintained as part of the transaction, creating one of the fastest growing firms in the sector.
Will Adams, director of Integrity Security Group, said: "This acquisition has been twelve months in the making and we are delighted to have taken over the operation of such a successful and well respected business.
"It came to our attention that Mike Ross, managing director of Roscot Security, was looking at early retirement after suffering from a loss of hearing and we felt it represented a perfect match with what we were trying to achieve."
Mr Adams added: "His firm has an excellent reputation for reliability and quality of service and also held a number of prestigious contracts in sectors we didn't previously operate in."
Commercial finance from Barclays was used to complete the deal, which sees all of Roscot Security's contracts and staff become part of Integrity Security Group.
The enlarged company will trade under the single brand and will be responsible for more than £2 million of contacts for clients ranging from city centre office developments to major manufacturers and regeneration projects.
Tony Turner, director at Integrity Security Group, said: "We now have a combined workforce of 120 staff, working on contracts across the West Midlands and for clients all over the UK.
"The acquisition gives us a great platform to achieve a record £2.5m turnover this year, which will represent growth of about 50%. Importantly, we want to maintain our reputation for high quality and continue the hard work and dedication of Mike Ross."
Established in 2008, Integrity provides dedicated cleaning, facilities management and security services ranging from manned guarding, mobile patrols and event security to key holding, alarm response and strategic consultancy.
The company has recently invested £100,000 into additional vehicles and a brand new website, not to mention increasing its head office to 3,000 sq ft.
All of this has helped Integrity pass the Security Industry Authority Approved Contractor Scheme, with a 37% improvement in its assessment.