Redline secures Mobeus investment
Mobeus has invested £3.7m to support Redline Assured Security Ltd (“Redline”), a world leader in the provision of security training, quality assurance and consulting, primarily to the aviation sector. The funding will be used to accelerate the roll out of Redline’s products and services in a number of new international markets.
The Doncaster-based business was founded by Paul Mason and Jim Termini after successful careers working together as helicopter pilots in the UK Military. Today, Redline’s 80 staff and 200 associates provide training and covert quality assurance services to a large number of customers, including the majority of UK airports.
Having historically focussed on the UK, the firm has seen growing international demand for its services in the last 12 months. The funds invested by Mobeus will support Redline’s further international development, with increasing passenger numbers and the need for heightened security underpinning future demand for Redline’s services. Redline is the only private company in the world that is directly endorsed by the International Civil Aviation Organisation, demonstrating the high level of trust placed upon it by the international community.
Mason and Termini are supported in the business by Chairman Sir Gary Coward KBE CB, former Chief of Matériel (Land) and Quartermaster-General to the UK Armed Forces.
Richard Babington, the Mobeus Partner who led the transaction, commented: “Britain is renowned worldwide for the quality of its aviation security, and Redline is the pre-eminent provider of aviation security training and quality assurance in Britain. We are delighted to be backing Paul, Jim and Redline as it continues to accelerate its development into Europe, the Middle East and Asia.”
Paul Mason, CEO of Redline, said: “The chance to work with a progressive, supportive equity house like Mobeus is an extremely exciting prospect for the whole team at Redline. We intend to maximise the opportunity to make a real difference in a very uncertain world.”
Jim Termini, Commercial Director of Redline, commented: “The Redline team draws immense satisfaction from making a measurable difference. We take only the best the UK has to offer and ‘Redline’ them, producing a team that works”.
Freddie Bacon worked in conjunction with Richard Babington on the transaction for Mobeus.
Mobeus was introduced to the deal by Andrew Lock of Lock Dutton Corporate Finance. Legal advice was provided by Squire Patton Boggs LLP (Paul Mann, Tim Hewens, Peter Morley, Mae Salem and Jessica Kolhorn) with financial due diligence carried out by Dow Schofield Watts LLP (Rob McCarthy). Commercial due diligence was provided by Fairgrove Partners (Paddy Woods-Ballard).