Security soloutions specialist Carolyne Demoulpied and Steve Boyden have joined forces with Philip Williams and Keith Thomson at Equinox Security Management, a niche security company that has already bought GB pound 4.6 million turnover Watford-based Crusader Security Services for a reported GB pound 1 million as the first step in its bid to reach a GB pound 50 million turnover by 2012.
Equinox Security was originally founded by Thomson in 1998 to serve as an events-based security company. Clients included the Royal Horticultural Society (organisers of the Chelsea Flower Show), and the company’s turnover was something in the region of GB pound 700,000. Williams joined in 2003 as executive director, and the decision was made to widen the business and include static security guarding services. Turnover was boosted to GB pound 1 million per annum.
Driving the business forward
Of late, Thomson and Williams had wanted to take the business forward but lacked the infrastructure to do so. Demoulpied and Boyden then stepped in as stakeholders last month, immediately following the buy-out of Crusader.
“The timing of the acquisition, followed by the appointment of Steve and myself, was so important,” said Demoulpied in an exclusive interview with SMT. “It offers us a combined turnover of circa GB pound 6 million and the infrastructure we need to deliver a national security service and support it well.”
Crusader Security Services is a privately-owned company that was established in 1985. Services incorporate guarding and mobile/keyholding services. The client base is broad, encompassing household name blue chip organisations, Government departments, national institutions and private companies.
The critical element of Crusader’s service provision has always been to offer high calibre security personnel whose background, experience and training ensure that client expectations can be met. Centralised administration, accounts and the 24-hour Communications Centre are based at Watford, so too senior management.
With Crusader now subsumed into Equinox Security Management, the latter boasts 200-plus officers – all of whom are Security Industry Authority (SIA) licensed. Boyden takes on the role of group managing director, Demoulpied becoming group business development director.
Philip Williams is the group commercial director (also assuming responsibility for operations and finance) and Keith Thomson is group director for special projects, including temporary guarding assignments.
“Over the next 12 months we’re going to concentrate on coalescing the Equinox and Crusader businesses,” added Demoulpied. “We very much want to inject a freshness into the new venture. Organic growth will be the order of the day for 2007 and 2008.”
Longer term, Boyden wants Equinox to become a “medium volume” (ie circa GB pound 50 million turnover) high quality provider of support services, including not only security solutions but also cleaning and associated ‘soft’ services. “The primary business aim is really to ensure that the name of Equinox is synonymous with service excellence, and that the company is recognised as the first choice, independent contractor,” affirmed Demoulpied.
How is that to be achieved? “Primarily by managed growth through acquisitions and organic sales,” replied Boyden. “We want to build up a reputation for high quality service provision, creative end user solutions, consistent performance and a flexible approach. Each of our assignments will have individual needs and solutions, and it’s up to us to reflect that.”
Fall-out from licensing
“The security industry has witnessed many acquisitions over the past few years, which we believe has resulted in large, multinational-style companies wherein individuality and flexibility are lost,” continued Demoulpied, a former employee of Empire Security.
“Coupled with the fall-out from the introduction of SIA licensing, this means far less choice for buyers. Some commentators predicted that licensing would increase costs and charges way beyond previous levels, but this hasn’t come to pass.”
Boyden then takes up the cudgels. “There’s still a threat that those larger organisations who are able to will continue to drive margins down simply to win business. To my mind, the security industry simply cannot afford to go down this route any longer.”