At the time of realisation Securistyle, based in Cheltenham, was the UK's leading manufacturer of architectural hardware products which include hinges, locking mechanisms and handles for use on windows, doors and conservatories.
The business supplied its products to the public sector, housing trusts, resellers and direct to other manufacturers. Securistyle dominated the specifier market in the UK and during the investment holding period Securistyle saw significant growth in both China and the Middle East. At the time of realisation the management team was led by Paul Cook, chief executive.
August Equity managed funds invested £11.3 million in the management buy-out in 2003. During the investment, August Equity introduced an experienced businessman as chairman who helped to improve the quality of corporate governance and introduced strategic reviews and planning processes to the board. In late 2006, Securistyle commissioned a new website aimed at heightening brand awareness, illustrating product benefits and enhancing sales.
In February 2006, August Equity realised part of the investment in Securistyle through a recapitalisation. The realisation of Securistyle was completed in 2006 via a secondary buy-out to Bank of Scotland Integrated Finance for £42.3 million.