£35,000 micro loan from Finance Wales provides Cardiff security company with financial boost
A Cardiff-based security company which opened for business last January is expanding with a £35,000 micro loan from Finance Wales.
Set up by experienced security professionals, Leighton Thomas and David Delbridge, Aegis Security Ltd (Aegis) provides closed-circuit television (CCTV)-based security services to companies in South and West Wales.
Aegis is already experiencing strong growth in its first year having secured a number of contracts with clients in the construction industry including R&M Williams, Waterstone Homes and Wilmott Dixon.
The pair have over 13 years’ security industry experience and a wealth of CCTV experience.
“David and I have worked for a number of security companies over the last 13 years and decided to set up on our own in 2014. We’d been carrying out more and more CCTV work and saw a potential opening so we set up Aegis. Our first 9 months have been busy, the business has grown quickly and we’ve already taken on some new staff.
“We’re delighted with the support we received from Finance Wales and our accountants Kilsby Williams. We were struggling to find finance and Noel Williams of Kilsby & Williams helped us get the project off the ground. He helped us with our business plan and introduced us to Finance Wales. They understand the extra support start-ups like Aegis need and how important this is to their future success. They also processed our application quickly and once everything was in place we received the loan within a week. We’re using the loan to support our cash flow and buy some new equipment,”
Aegis provides a reliable, cost-effective remote monitoring service from its Cardiff control centre. The company also installs and maintains monitoring equipment and responds to any incidents.
Rhiannon Brewer, Senior Investment Executive in Finance Wales’ Micro loans team worked with David and Leighton to understand their business plan and come up with suitable loan. She said:
“David and Leighton are experienced professionals who understand the security industry well and also make a good team. Their professional reputation within the indursty has enabled them to build Aegis’s client base quickly.
“Aegis is continuing to win new contracts and its future looks promising. Start-ups can often require additional finance as they become more established to boost their cash flow and to buy new equipment for instance. Finance Wales was pleased to provide Aegis with the cash injection it needed.”
Planned growth over the next few years will see Aegis establish a network of regionally based, sub-contracted CCTV specialists.
The British Security Industry Association (BSIA) estimates that there are over 4.9 million CCTV cameras – approximately 1 for every 14 citizens – in the UK, currently costing an estimated £400 million to manage and maintain. Their use is set to increase by 30% between by 2012 and 2016.
Finance Wales’ micro loan came from the Welsh Government- backed Wales Micro-business Loan Fund. Micro loans from £1,000 to £50,000 are available from Finance and can be used for a range of needs including equipment and stock purchase, cash flow, acquisition as well as to fit out new premises.