Market-leading manufacturer OSL Group has announced further expansion plans with its latest acquisition of Securefast with funding from Barclays.
OSL has three divisions operating in the automotive aftermarket, power tool and security channels, through acquisition and organic investment it has broadened its product and service offering to its customer base.
Mathew Grey, group CEO, said “The Securefast acquisition broadens out our security proposition taking us deeper into access control, enabling us to support our global distribution partners and ultimately our end users. The Securefast management team share our passion for developing products that deliver value to our customers and I look forward to taking the new offering to market. Barclays has once again provided great support to help us deliver on this latest acquisition”.
OSL employ over 200 staff globally with a turnover for this year expected to surpass £40m. Matthew Chenery, Barclays relationship director, put together the funding package for the deal and said; “We are delighted that Barclays has been able to support the Group in making the strategically important acquisition of Securefast. Through our deep relationship and strong understanding of the Group, the Barclays team were very happy to provide both acquisition funding and working capital financing facilities and we look forward to supporting their growth plans for many years to come.”
Legal advice for OSL was provided by Alex Ross, Bell & Buxton.
