With origins dating back to 1986, Secure specialises in supplying, installing and managing payment devices for merchants with particular expertise in the retail, leisure and infrastructure sectors.
ThinCats has provided a £4.3m funding facility to Secure Retail Limited (Secure), the market leading provider of high security payment software and hardware.
The business is backed by NVM Private Equity who acquired a majority shareholding as part of an MBO in September 2019. The Funding from ThinCats is to refinance NVM and management loan notes issued at the time of the MBO.
Kevin Steven, Kenny Hughes, Steph Elgie and Tom Maguire led the funding for Thincats.
Andy Leach, Investment Partner of NVM Private Equity: “We chose to invest in Secure, because they have an experienced leadership team in a specialist sector where they have established a market leading position. From our previous experience working with Kevin, Kenny and the ThinCats team, we knew this transaction would be a good match with their bespoke funding model.”
Kenny Hughes, Director, Private Equity Business Development, ThinCats: “We are keen to support ambitious businesses like Secure. Our knowledge of the NVM investment process gave us further confidence that Thincats should support this transaction. We wish David and Andy every success and look forward to supporting future funding facilities.”
The investment from NVM at the time of our MBO last year marked a key stage in accelerating our growth strategy. The funding provided from ThinCats brings further support. The funding process was straightforward, helped by NVM’s existing relationship with ThinCats.