Veritech secures Barclays funding for growth plans

Veritech Security has secured a multi-million-pound lending package from Barclays Business Bank to support the Southampton-based company's next phase of growth.

The funding will allow Veritech to refinance existing liabilities while continuing to invest in staff, technology, infrastructure and its service offering. The business operates across CCTV, remote monitoring, electronic security systems, guarding, keyholding and mobile patrols.

Veritech serves public-sector and commercial customers in sectors including maritime, education, healthcare, property management and construction. It also operates a 24/7 control centre as part of its security monitoring work.

The deal comes as the company looks to expand operations and assess selected acquisition opportunities. It has also been investing in new technology and widening its operational reach.

Veritech is accredited in the top 1% of SIA Approved Contractors, according to the company. It has also received industry recognition, including the FIR Inspiration Award 2024 from the Supply Chain Sustainability School.

Paul Oldridge, Managing Director at Veritech Security, said: "Securing this funding package gives us greater flexibility as we move into the next phase of Veritech's growth, allowing us to refinance existing debt while creating headroom to keep investing in our people, technology, infrastructure and service offering. Our focus is on scaling responsibly while maintaining the quality, responsiveness and technical capability our customers expect and deserve. Demand for technology-led security solutions continues to grow, and this support from Barclays will help us strengthen our 24/7 monitoring capability, develop our wider service offering and explore new opportunities in high-growth areas."

Growth plans

Veritech provides a mix of manned and technology-based security services, from CCTV installation and monitoring to corporate security and patrol services. Its customer base spans public and private organisations, reflecting broad demand for outsourced security operations and site monitoring.

Support for businesses such as Veritech reflects lenders' continued appetite to back established regional operators with recurring service revenues and room for expansion. In this case, the new facilities are being used both to reshape the balance sheet and fund further development.

Barclays has supported Veritech for several years, according to the bank. The latest package builds on that relationship as the business increases investment without interrupting day-to-day operations.

Andrew Holden, Relationship Director at Barclays Business Bank, said: "Veritech is a strong example of a long-standing local business with a clear growth story, a strong reputation and an ambition to keep investing in the future. Paul and the team have built a highly regarded business in a very competitive sector, with a clear focus on quality, innovation and customer service. We are proud to have supported Veritech over many years, and this latest funding package reflects both the strength of that relationship and our confidence in Veritech's future."

Sector demand

Security providers have faced rising demand from organisations looking to combine physical guarding with electronic monitoring and remote oversight. That has prompted many companies in the sector to invest in control rooms, systems integration and wider service coverage.

Veritech's emphasis on remote monitoring and electronic systems places it in a part of the market where clients are seeking continuous coverage across dispersed estates and critical sites. Sectors such as healthcare, education and construction often require a blend of on-site presence and off-site monitoring to manage risk, access and incident response.

The refinancing element of the Barclays package also reflects a common route for medium-sized service businesses seeking to free up capital for expansion. By replacing existing liabilities with new facilities, companies can create more room to direct spending towards hiring, systems and operational assets.

For Veritech, that means further investment in its control centre, service lines and wider business infrastructure as it aims to grow beyond its current footprint.