ReSolve assists with sale of surveillance firm Cloudview UK

27 March 2023 Consultancy.uk 2 min. read

Restructuring consultancy ReSolve has completed the sale of Cloudview Holdings and Cloudview UK out of administration. The deal has reportedly preserved 16 jobs, by avoiding the liquidation of the firm.

Founded in 2010, Cloudview is a video-surveillance provider. The firm’s solutions operate via a cloud-based video surveillance system, enabling clients to monitor their premises while complying with relevant corporate governance requirements.

Research by Clarion Security Systems estimates that there are over 7 million CCTV cameras in the UK, or roughly one for every 11 people in the UK. As a result, UK citizens are likely to be captured on CCTV as often as 70 times every day. Despite this huge apparent demand for CCTV in Britain, however, recent months still saw Cloudview face many of the headwinds other medium-sized businesses across the UK were facing – with significant cash pressures as a result.

ReSolve assists with sale of surveillance firm Cloudview UK

As a result, Cloudview fell into administration in February 2023. Professionals from ReSolve were engaged to assist the company with an accelerated M&A process, seeking urgent rescue capital or a sale of the business and its assets. ReSolve undertook a marketing process, contacting relevant parties across multiple databases including its own extensive interested party database – something which had to be completed in a very short timeframe given the cash constraints facing the business.

In the end, ReSolve was able to confirm a pre-packaged administration deal, selling the firm’s assets to CloudVplus Holdings. Without this sale, phoenixing the company, ReSolve employees would likely have been made immediately redundant and the firm’s intellectual property rights would have been sold to the highest bidder in a liquidation procedure.

Robert Petch, Director at CloudVplus Holdings, added, “We thank ReSolve for its efficient support throughout this difficult process. Cloudview was impacted by significant factors outside its control, and we are grateful that this result has saved its business. We look forward to working with the team and we are excited to see what lies ahead for the Company.”

ReSolve’s team on the project included Ben Woodthorpe, Partner; Simon Jagger, Partner; and James Thompson, Senior Manager. According to Woodthorpe, the sale demonstrates “ReSolve’s particular expertise” in helping to rescue “an innovative UK business.’’

He added, “We are delighted to have found a buyer for Cloudview which has saved the jobs of its employees and provides a platform for fresh investment. This was a challenging situation with the sale needing to be done on an accelerated timeline and it is a testament to the skill and hard work of the whole ReSolve team that we achieved this positive outcome.

Founded in 2006, ReSolve is a consulting firm which focuses in advisory, restructuring and investment work for clients across the UK. Headquartered in London, it provides advice and capital to businesses experiencing difficulties, facing changing circumstances or enjoying significant growth.