Duke Royalty Limited, a leading provider of hybrid capital solutions for SME business owners in Europe and North America, has announced a follow-on investment of £3.85 million into its existing capital partner, New Path Fire and Security Limited. This investment will enable New Path to complete two further acquisitions, in line with its acquisitive growth strategy.
New Path is a buy-and-build platform in the fire and security sector, primarily servicing SME clients in and around London and the South of England. Duke's funds will facilitate New Path's acquisition of Electrifire Ltd and VGI Management Ltd, both providers of fire and security installation and maintenance services to commercial customers. This investment increases Duke's total investment in New Path to £10.75 million.
Neil Johnson, CEO of Duke Capital, expressed excitement about supporting New Path via the acquisition of two new targets, which are complementary to its existing portfolio. The two acquisitions will add further scale to New Path's platform and create additional efficiency in the provision of services to its client-base in London and the South of England.
Electrifire, founded in 2009, is a Rochester-based provider of installation and maintenance services focused on fire alarms, intruder alarms, access control, and CCTV systems, with commercial and office customers predominantly in central London and the Kent area. VGI, founded in 2003, is a provider of installation and maintenance services focused on security, electrical work, and fire safety, primarily servicing the property management sector in South West London and Surrey.
Duke Royalty Limited's support for New Path's acquisitions demonstrates its commitment to providing long-term financing solutions for SMEs, eliminating re-financing risk and aligning its returns to grow with the success of the business.