LPM Group, a provider of contract cleaning, security and maintenance services, has acquired Temple Security for £12 million. LPM is backed by private equity firm Sovereign Capital.

LPM Group, a provider of contract cleaning, security and maintenance services, has acquired Temple Security for £12 million. LPM is backed by private equity firm Sovereign Capital.

The acquisition of Temple boosts Axis, LPM Group’s security subsidiary, to more than 3,000 employees with revenues of some £55 million. Mark Williams, Sovereign Capital investment manager, said, “The acquisition of Temple is an excellent fit with LPM’s existing security operations.”

Armstrong Transaction Services provided commercial due diligence to LPM Group. Associate director Edward Hikmet and director Robin Illingworth led the team. Hikmet commented, “The deal adds scale and a national presence to LPM Group’s security business and is an important acquisition in Sovereign’s buy-and-build strategy.”

Bristol-based law firm Osborne Clarke represented Sovereign Capital and LPM Group in the financing and implementation of the acquisition, as well as providing tax advice. Paul Cooper led the team, assisted by David Furby on corporate, Chris Gratton on banking and Erika Jupe on tax matters.