Stewart Haworth – Director of debt finance at Oaknorth

Founded in 2005 in Prestwick, Veracity has a global presence with offices across the UK, North America, Middle East, India, and Malaysia. Veracity offers a comprehensive and highly specialised product range of critical components, sub systems, and completely integrated solutions which solve transmission, storage and display challenges in IP video surveillance systems.

Founded in 2014 by Stani Schmidt-Chiari and Elliott Nicholson, Longacre Group is a UK headquartered group of highly specialised, products and services companies employing in excess of 1,000 people worldwide in its core sectors of Business Services, Healthcare Products and Services, Technical Manufacturing and Speciality Chemicals.

Longacre Group were advised my MDW Capital on the debt financing.

Alastair McLeod, CEO of Veracity, commented on the transaction: “Our mission has always been to connect, integrate and control a diverse set of security products, including the provision of complete and cybersecure video surveillance solutions and security management systems.

“These systems operate in very demanding, high-end security and critical national infrastructure sectors and are delivered alongside our extensive range of market-leading IP transmission products.

“The support from Longacre Group and the financial backing they received from OakNorth will help accelerate our growth plans in the future.”

Stani Schmidt-Chiari, Co-CEO and founder of Longacre Group, added: “Longacre Group prides itself on its flexible investment strategy and the value we can bring through our inhouse team of operating partners.

“We are delighted to be able to support Veracity on its next stage of growth. It has been a pleasure working with Stewart and the OakNorth team who were highly entrepreneurial throughout the entire transaction and their speed of execution helped us complete our investment on an extremely tight timetable.”

Stewart Haworth, Director of Debt Finance at OakNorth, said: “We are delighted to support such a well-established investment house with a proven investment track record.

“The global video surveillance market is set for significant growth over the next five years, driven by increasing security demands in private and public places.

“Veracity is in a prime position to capitalise on this tailwind following its investment from Longacre Group. We look forward to strengthening our relationship with both Veracity and Longacre Group in the future.”