28.11.03
CCTV firm expands to meet local security demand

A high-tech digital surveillance company is expanding to meet rapid demand for its services with the help of investment from Objective One project Finance Cornwall.

Finance Cornwall is a £20 million investment fund which is backed by £9 million from the Objective One European Regional Development Fund, £10.12 million from Barclays Bank and £880,000 from Cornwall County Council.

Perspective CCTV Ltd, which was set up two and a half years ago, has secured an £80,400 investment package with support from the Finance Cornwall Growth Fund.

The investment will create two new jobs and enable the company to purchase IT equipment, new vehicles and invest in staff training to build up the business.

Perspective CCTV specialises in digital closed circuit television (CCTV) surveillance systems, the business employs five full-time members of staff on the Newham Industrial Estate in Truro. The company has enjoyed a busy first year and has secured contracts with big name clients such as Rodda's Creamery, Toshiba, Wrigley's, Jewson and even Lords Cricket Ground.

With businesses becoming increasingly security conscious in recent years, the market for CCTV products has taken off. Perspective CCTV was set up to specialise solely in the sale, installation and maintenance of digital CCTV systems which are far more flexible than older analogue models.

Digital technology enables clients to record high quality surveillance footage directly to a digital hard drive, resulting in high quality, easily searchable footage which can be viewed in real-time through locally sited TV monitors or remotely through a secure internet site.

In March the company moved from St Austell to larger premises in Truro, which include a special demonstration room to show potential clients the benefits of digital surveillance and to match the right system to the client.

The room is also equipped with the latest ISDN and ADSL broadband communications technology so that customers can select the appropriate delivery method for their package of remote access monitoring.

Andrew Oakes, managing director of Perspective CCTV said: "We've already seen a fantastic first year of business with many of our larger, high value installation contracts completed, as well as establishing important relationships with many smaller local companies.”

Recognising the potential for his business to grow, Andrew appointed local accountants Lang Bennetts to draw up a financial projection from which he could assess what could be done to take advantage of market opportunities.

Andrew added: "It was evident that in order to move the business on to the next stage of development investment was required, and I am delighted that Finance Cornwall has been able to help in providing an important part of the investment package to enable me to secure additional finance.”

Perspective CCTV's investment package includes a loan from the Finance Cornwall Growth Funding Initiative, with additional funding from Lloyds TSB and a vehicle finance company.

Finance Cornwall investment fund manager Jeff Lenihan, said: "Although Perspective CCTV is a relatively new company, it has already proved itself in terms of its ability to provide a quality service to a varied client base. Finance Cornwall recognised the company's potential, which is why we were delighted to provide finance to enable the company to grow and prosper and build a solid future.”

Michael Johns, partner at Truro based accountants Lang Bennetts said: "We are increasingly finding that dynamic businesses such as Perspective CCTV need extra funds to finance their growth. We specialise in helping businesses to raise finance and we are delighted to have helped Andrew to secure this money.”

Finance Cornwall is a £20 million investment fund for businesses in or locating to Cornwall. It can invest from as little as £5,000 to £650,000 and can help with business start-ups, growth funding, business acquisitions or business sales. Finance Cornwall can also help applicants with business planning and provides an ongoing mentoring service where appropriate.

Funding is available to businesses whose principal place of operation is, or will be, in Cornwall or the Isles of Scilly. The funds are managed by Alliance Fund Managers Ltd, which is regulated by the Financial Services Authority in the course of investment business.

To find out more visit www.financecornwall.co.uk

For more information contact:

Jeff Lenihan
Fund Manager
Finance Cornwall
01872 272288

Andrew Oakes
Perspective CCTV
0845 454 8003

Editor's notes:

Jason Clark
Communications Adviser
Objective One Partnership Office
Castle House
Pydar Street
Truro TR1 2UD
Tel: 01872 241379
Fax: 01872 241388
objectiveone@cornwall.gov.uk

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