en
Nieuwsbrief
Cases

Varel Security on acquisition path

  • Acquisitions
  • Growth
VarelSecurity-BenFortan-pmv

With more than a thousand authorised security and CCTV firms, the industry is highly fragmented.

Ben Fortan, Managing Director Varel Security

Varel Security offers services and hardware for intrusion prevention, fire protection, access control and camera surveillance. To acquire security firm Lares, another step in entrepreneur Ben Fortan’s buy-and-build story, it called on PMV financing.

Varel Security offers services and hardware for intrusion prevention, fire protection, access control and camera surveillance. The company has some 45 employees and caters to both private individuals and companies. To acquire security firm Lares, it called on PMV financing. Lares is active in control room connections for private individuals and companies. With Lares, entrepreneur Ben Fortan adds a new entity to his company. Fortan, who gained experience first at Caterpillar and then at Securitas Belgium, is growing steadily through a buy-and-build strategy. The journey started in 2016 with the acquisition of Be Smart Security (maintenance and control rooms), followed by Pro Biometrics (camera system leasing), Varel Alarm and AJG Systems.

VarelSecurity-pmv

Independent player

Varel Security is one of the few independent players in Belgium that can offer a national service to both individuals and companies. It developed its own integrated software package for intrusion, fire and access control, enabling it to perform intelligent commands (facial recognition, number plates, heat mapping…) and thus compete with the larger security firms. It aims to distinguish itself in the market through quality products, high-end installations and good after-sales service. With more than a thousand authorised security and camera surveillance firms, the sector is very fragmented. Larger international players such as Verisure and Securitas are consolidating the market. In light of this evolution, Fortan aims to grow through acquisitions (buy and build): a strategy suitable for companies in a fragmented industry (with sufficient acquisition candidates) and a scalable business model that benefits from additional scale. The acquisition experience, synergy opportunities and recurring revenue base prompted PMV to grant a loan, which Fortan combined with a bank loan and a vendor loan to complete the acquisition of Lares.

Visit the website of Varel Security

www.varelsecurity.be