The management of Securicor Information Systems have completed a Ј20.5m management buy-out from Securicor plc using funding provided by NMB-Heller and Kleinwort Capital. The company, renamed Vivista, operates in one of the most dynamic parts of the IT services sector.
In structuring the deal NMB-Heller has provided a Ј9.25m senior debt funding package, including a Ј3.5m mezzanine loan. This structure accommodates the highly contractual nature of Vivista’s business.
Bruce Brain, chief executive, Vivista outlines what he is aiming to achieve with the company: “The company is perfectly placed to make a significant contribution to the Government’s agenda for modernising and joining up the Criminal Justice System. We also have a growing presence in local government which we are keen to build on.”
