A FIRE safety and security business which has bought 14 other companies in four years has won finance for further expansion.

Churches Fire says it is on course to become the largest independent company in its field.

It has secured a £75million refinancing package from HSBC UK, HSBC Asset Management, Northleaf Capital Partners and Siemens Bank.

Chandlers Ford-based Churches is backed by private equity sponsor Horizon Capital.

Its recent acquisitions mean it serves more than 15,000 customers across the UK.

The funding will provide it with “significant firepower” for future acquisitions, with further takeovers in the pipeline for this year and beyond.

Adam Lewis, Churches Fire non-executive and Horizon Capital partner, said: “The refinancing with support from HSBC UK and its partners enables Churches Fire to continue on its journey towards becoming the largest independent fire safety and security compliance services group in the UK.”

HSBC launches fund to help Hampshire businesses

Scott McClurg, HSBC UK head of middle market financial sponsors, said: “HSBC UK was delighted to lead the refinancing to support long-standing customer Churches Fire, and Horizon Capital.

“It was a great opportunity to deliver for our customer and Horizon through our new Senior Direct Lending Fund, with partner lenders Northleaf and Siemens, which will enable Churches to continue its impressive growth story. We look forward to working with them closely in the future.”

Churches Fire’s services include fire risk assessments, maintenance services, monitoring detection, containment, evacuation and electronic security systems.

Churches Fire appointed Clearwater International as advisers on the transaction.

Chris Smith, Clearwater International debt advisory partner, said: “We are delighted to have advised another Horizon Capital portfolio company on a successful refinancing.

“HSBC UK and their lending partners moved efficiently through our process, putting in place a very flexible and competitively priced structure. Churches now have significant firepower to continue their growth strategy with the backing of both a strong private equity house and highly supportive debt partners.”