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VPS sold

by Mark Rowe

VPS Acquisitions, a company owned by funds managed by TDR Capital LLP, announced the sale of VPS Holdings (“VPS”), the vacant property contract services firm, to the European private equity firm PAI Partners.

VPS provides its proprietary suite of specialised vacant property alarms, motion triggered CCTV systems and security screensand doors, with specialist property management services, such as facility services, manned guards and live-in guardian services.

Robert W. Baird (“Baird”), a middle-market investment bank, advised VPS Acquisitions on the deal. Jonathan Harrison, a Managing Director in Baird’s Global Investment Banking business and a lead banker on the deal commented that the deal further underscores private equity’s ongoing appetite and willingness to pay for high quality assets: “VPS is a rare pan-European investment opportunity, with strong positions in fragmented, niche markets, a very good management team and multiple organic and M&A growth prospects. Given the company’s scarcity value and favorable debt market dynamics, VPS generated very strong interest from the private equity community.”

The VPS sale marks the fourth M&A deal involving a French entity for Baird in the last six months, including the recently announced sale of Ecova, Inc. to Cofely USA , an indirect subsidiary of the French multinational utility company GDF SUEZ, GOJO Industries investment in Laboratoires Prodene Klint , and the acquisition of Maxxam Analytics by Bureau Veritas.

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