The Morden in Surrey-based security solutions provider Protech Integrated Services has been sold to Zentech Security in the wake of mounting cashflow problems due to trade debts and a substantial tax bill.
SFP’s Daniel and Simon Plant – licensed members of the Insolvency Practitioners’ Association – were appointed Joint Administrators of Protech on Thursday 9 December, with the sale completing on the following day for an undisclosed sum.
A Safecontractir and member of the London Chamber of Commerce and Industry, Protech Integrated Services has served as a nationwide provider of end customer solutions for contract security, personnel recruitment and general site maintenance.
One of its biggest clients was the global property company DTZ, for whom it has provide a security guarding service.
Other services provided by the Approved Contractor Scheme-registered operation include the provision of CCTV operators, security receptionists, door supervisors and parking enforcement officers.
“Security providers are an integral part of modern business, but they can be greatly affected by business closures or the loss of large accounts,” said Simon Plant, Group partner at SFP. “Competition, particularly in the security guarding sector, is especially fierce at the moment which is why we have seen so many solutions providers extend their service offering to combine manpower and technology.”
Plant has worked closely with the directors of both Protech and Zentech Security to keep the company running, ensuring that the staff kept their jobs.
