Vehicle safety technology company Innovative Safety Systems Ltd (ISS) has received a significant investment from Leeds-based YFM Equity Partners, to support and accelerate its plans for expansion.
ISS founder and CEO Gavin Thoday said: “We have experienced significant growth over recent years as we have introduced a number of innovative new technologies into the market-place. We are developing pioneering new software projects that will enable fleet operators to have access to a whole new level of information and visibility, for their whole fleet.
“The partnership with YFM will support and accelerate these plans, along with providing additional and ongoing investment into our market leading aftersales service. One of the key drivers for partnering with YFM was a clear cultural fit and their appreciation of our ethos around customer excellence and the importance of ongoing innovation.”
Based in Pershore ISS was founded in 2009 and the business has grown rapidly with its own nationwide network of mobile engineers. A market leader in the waste management sector ISS is dedicated to creating innovative vehicle safety technology products to fulfil the needs of its customers. The company has introduced some ground-breaking products to the market-place including the Cyclear™ cyclist safety warning device, Reaclear reverse safety device and most recently IDClear, which prevents vehicles from rolling away or being stolen whilst standing idle.
The company’s future plans include the expansion of its core markets as well as targeting new sectors such as the construction market, which will complement its existing client base of large fleet operators and local authorities.
Charlie Robinson, partner at YFM said: “We have been very impressed by Gavin and the rest of the ISS team. They have done a fantastic job in developing ISS to its current position and the business is now well-positioned to exploit growth opportunities across a number of markets with an expanding product and service portfolio, all against a backdrop of increasing importance of health and safety across all industries.
“YFM has a proven track record in partnering with similar growth businesses and supporting them to deliver their plans. ISS’ positive impact on safety for its customers resonates strongly with YFM’s approach. We look forward to working with ISS on the next stage of the company’s journey.”
Grant Thornton who provided advice and guidance to ISS, and Keith Palmer, ISS Chief Finance Officer, both played a crucial role in securing the investment.
Gavin added: “I would like to thank our Chief Finance Officer, Keith Palmer, for his significant contribution to the process, and the team at Grant Thornton for their invaluable support and advice. We particularly liked the collaborative, personal style of working, which enabled the character and culture of our business to shine through, whilst still maintaining a thoroughly professional approach.”
ISS designs, supplies and maintains a wide range of vehicle safety technology, much of which is manufactured here in the UK. The ISS product portfolio also includes Reaclear (HGV reversing safety device), the RX3 hard disk recording system, LANLink remote footage download, Auto-stop radar and vehicle-tracking systems.
For more information: www.iss-international.co.uk