mynth
03/2021MajorityLBO

Freshstream takes majority stake in DeterTech

UNITED KINGDOM Facility Management / Maintenance / Security & Guarding EV €100–350M

Context

On 29 March 2021, London-based private equity firm Freshstream completed the leveraged buyout of DeterTech (formerly SmartWater Group), marking the sponsor’s inaugural platform investment in the safety and security sector and its fifth transaction in the United Kingdom. Freshstream, which manages €600 million in assets under management and targets equity tickets between €30 million and €100 million, backed the business to accelerate its transformation into a pan-European, intelligence-led security solutions platform. The investment thesis centers on scaling DeterTech’s leadership across rapid-deployment CCTV surveillance towers, mobile cameras, and its proprietary forensic-marking technology, SmartWater. Through a programmatic buy-and-build playbook, Freshstream backed the platform’s international expansion across Northern Europe, executing targeted cross-border add-ons in the Netherlands, Belgium, Germany, and Denmark, alongside greenfield entry into Sweden. Domestically, the platform deepened commercial penetration across high-margin adjacent end-markets, including renewable infrastructure (solar and wind farms), critical utilities, and retail logistics. Operationally, the value-creation roadmap insourced the assembly and manufacturing of the flagship "Dalek" modular camera unit to secure direct margin control, supported a corporate-wide brand consolidation under DeterTech, and deployed a centralized CRM infrastructure. Governance was institutionalized via C-suite renewals across the CEO, CTO, CPO, and President roles, alongside operational ESG int

DeterTech, which reported an EBITDA margin of [members only] in 2021, is valued in this transaction at an EV/EBITDA multiple of 10x–18x.

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Target

Founded in 1993 and headquartered in Telford, United Kingdom, DeterTech operates as a specialized provider of intelligence-led, end-to-end site security solutions. Under the executive leadership of Chief Executive Officer Baba Devani, the enterprise coordinates temporary security infrastructure to deter criminal activity across the construction, rail, property management, and retail sectors. To support its threat mitigation mandates, the organization engineers a technological portfolio featuring visually verified video surveillance towers, including the PID360, PIDCompact, and SmartRecon systems. Furthermore, the company develops SmartWater, a proprietary traceable liquid forensic marking solution providing a legally irrefutable method to link criminals and stolen assets directly to specific crime scenes. Through this integrated hardware and intelligence framework, the security provider addresses the protection requirements of an established commercial client base distributed across the United Kingdom, Ireland, Germany, the Netherlands, Denmark, and Sweden. To advance its sustainability objectives, the organization ensures zero percent of waste from its British site is sent to landfill.

Ent. Value

€100–350M

Equity Value

[members only]

Multiples

EV / Revenue

[members only]

EV / EBITDA

10x–18x

EV / EBIT

[members only]

Historical Financials (EUR)

Year
Rev
EBITDA
EBIT
2021
[members only]
€5–25M
[members only]
2020
[members only]
€5–25M
[members only]

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REFERENCES

Valuation range: EV €100–350M

EBITDA range: €5–25M

EV/EBITDA range: 10x - 18x

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of DeterTech by Freshstream are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Target: detertech

FAQ

What transaction does this page cover?

This page covers the acquisition of a majority stake in DeterTech, a British company specialised in Maintenance, by Freshstream in 2021, structured as a leveraged buyout (LBO).

How was the acquisition of DeterTech by Freshstream valued, and what multiples were paid?

mynth displays the transaction’s enterprise value within the €100–350M band and its EV/EBITDA multiple within the 10x - 18x range. Exact figures are available to members.

What was DeterTech’s EBITDA at the time of the deal?

At the time of the transaction, DeterTech’s EBITDA was estimated within the €5–25M bracket (FY 2021). Detailed financial figures are available to members.

What sources support the information on this transaction?

Information on this transaction is sourced from the official corporate announcement published by the parties, corroborated by a private document shared by the community and verified by the mynth team to ensure the accuracy of the shared information.

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