VPS Holdings - TDR Capital

At the time of our ownership, VPS Holdings Limited was a leading provider of products and services for the protection and maintenance of vacant properties.

Headquartered in the UK, the company operated primarily in the UK, France and Holland. Providing a one-stop shop for vacant property needs, VPS delivered services such as cleaning and clearing, guardian services and manned guarding, alongside the rental of security products such as electronic steel doors and proprietary alarm systems.

At a glance
Status: Realised
Exit Type: Financial Buyer
Deal Type: Private Sale
Sector: Business Services
Exit Date: July 2014
Initial Investment Date: March 2010
Website: www.vpsgroup.com

Transaction

VPS became known to TDR through our investment in Phoenix Group as it formed part of the Phoenix portfolio.

Over the following years we gained an in-depth understanding of VPS and its major markets, and were able to clearly assess the management and operational improvement potential. We acquired the business in 2010.

During TDR’s investment

Implemented a highly accretive buy-and-build strategy, consolidating a fragmented European market for vacant property services.

Two TDR Operating Partners were deployed full-time in the company to ensure a quick delivery of the operational transformation. A new management team was recruited and subsequently we worked alongside management on new product development, continued operational improvements and the integration of corporate acquisitions
We worked with the business to pursue and execute buy-and-build opportunities across Europe. This resulted in the expansion of the business from five to eight countries
In October 2013 we completed the transformational acquisition of MCS , a US-based provider of property services on behalf of mortgage lenders and concurrently demerged the US division of VPS
In July 2014, following a competitive sale process, we completed the sale of VPS to PAI Partners