UK Restructuring

Duff & Phelps Helped Restructure One of the Longest Established Providers of Security Services

Duff & Phelps is pleased to announce that it has helped restructure one of the longest established providers of security services, protecting a significant number of jobs and helping preserve the value of the business.

About the Company

The Company was one of the longest established providers of security services in the UK, with c.3,000 staff specialising in providing man guarding and other security services on long term contracts.

Duff & Phelps Role

The Company had attempted to grow by acquisition, which resulted in the business struggling to properly integrate various divisions together and achieve the necessary economies of scale. This led to losses, which were funded by the non-payment of HMRC for a period, but which ultimately resulted in a winding up petition being presented and insolvency becoming unavoidable.

Duff & Phelps assisted the Company to monitor the cash flow of the business to limit and manage down the FIU of the invoice discounter. Having rapidly established the inevitability of insolvency, Duff & Phelps was able to conduct an accelerated, discrete and targeted marketing process of the business and assets in order to maximise returns for all stakeholders.

Duff & Phelps’ role resulted in the funder being repaid in full and the Company being sold via a pre-packaged administration process which was deemed necessary in order to protect value. Duff & Phelps’ ability to react quickly to a distressed situation saved a significant number of jobs within the business and also resulted in a dividend being paid to unsecured creditors.

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Financial and operational restructuring and enforcement of security, including investigation, preservation and realization of assets for investors, lenders and companies.

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