Clyde & Co advises Pivotal on its acquisition of Security Plus Limited

Global law firm Clyde & Co has advised Pivotal, a leading cash services company with an expanding ATM estate, on the cash-specific elements of its acquisition of Security Plus Limited.

Security Plus Limited offers a comprehensive range of services, including cash and valuables in transit, secure cash collections, cash processing, note and coin supply, and a full range of guarding services. 

With this acquisition Pivotal becomes the UK and Ireland’s largest independent provider of cash management and ATM services.

Nick Purnell, Partner, Clyde & Co commented: "This is a significant transaction for the UK cash market which remains in a state of flux. With declining cash volumes and significant structural changes on the High Street, particularly around the provision of banking and related cash services, there are significant questions to be answered as to how businesses and individuals will use, bank and obtain cash. 

This acquisition provides Pivotal with a platform to roll out its services and innovations across the UK and Ireland. We were delighted to be instructed on this transaction and look forward to working with Terry Hughes and the Pivotal team going forward.”

Terry Hughes, Chief Executive Officer at Pivotal said: “We were delighted to work once again with Clyde & Co on the deal and the advice, support and guidance from Clyde & Co and particularly Nick Purnell was most definitely instrumental in getting the transaction completed. We are excited to integrate the businesses and to continuing to work ever closer with Clyde & Co."

Corporate and Commercial Partner, Nick Purnell, was selected to advise as lead counsel on the cash-specific elements of this acquisition due to his in-depth industry expertise in full cash management lifecycle processes. He was supported by Georgia Losy, Senior Associate. Clyde & Co’s involvement in this transaction further cements its position as an industry leader in the provision of legal advice to the cash, and payment services sectors.