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Evander Glazing & Locks (Evander), the nationwide 24/7 emergency response and repair provider of glazing and locks, has been acquired by VPS, the vacant property, site security and property services specialists. VPS has acquired Evander from Bridgepoint Development Capital (BDC) and Lloyds Development Capital (LDC), who have co-owned the business since 2011.
Headquartered in the UK, the VPS Group leads the European vacant property services market, providing a full suite of 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 (clearing, cleaning, waste disposal, maintenance and grounds services). Key customers include social housing organisations and wide range of commercial customers, such as property managers, retailers, industrial, construction and infrastructure companies. 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.
Evander, headquartered in Norwich, is the UK's leading nationwide emergency response glazing and locks business. Through its national infrastructure of 19 depots and 297 engineers, it provides 24/7 response and fulfilment services to both the insurance and commercial sectors as well as direct to consumers. Two thirds of its business comes from the insurance sector and include the largest domestic home insurers 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.’
Rick Francis, CEO of Evander, added: ‘The business will benefit significantly from becoming part of a larger platform with ambitious plans for growth in the sectors we operate. It will allow us to accelerate the level of innovation to the services we currently provide and to extend a wider range of services to our client base. Our team are delighted to be joining a business that has substantial opportunities for growth.
Advisers involved in the transaction included:
- for VPS: PWC (Financial), Mishcon de Reya (legal)
- for BDC and LDC: Clearwater (M&A), Travers Smith (legal)