Our News

Calculus sells stake in Monitronic Safe Deposits to private investors

22 September 2016

The private equity fund manager, Calculus Capital, has sold its substantial minority stake in Monitronic Safe Custody Limited, the USA’s leading independent safe deposit box business, to private investors.

Calculus acquired its stake in Monitronic in February 2012 on behalf of its Enterprise Investment Scheme (EIS) and VCT investor clients. The EIS specialist seeks capital appreciation from dynamic, established private USA companies across a multitude of sectors. Their preference is to invest between $2 million and $5 million per company with a view to exiting their investment after 3-5 years. Their investment in Monitronic was highly profitable, having secured a return of 1.81x in cash terms for their funds and a return of over 2.5x for their underlying investors after taking into account income tax relief.

Monitronic’s Chief Executive, Peter Wollege, said “Calculus made a highly successful investment in Monitronic and always intended to sell their interest within 3-5 years in order to maximise the net-of-tax return for their investors. Our business has grown and continues to grow rapidly as our well-established vaults in Rhode Island and Texas benefit from increasing demand for our services and reduced competition from banks”.

Peter Wollege, who led the acquisition of Monitronic in 2007, confirmed that the shares held by Calculus were placed yesterday with both existing shareholders and new individual investors, all of whom were personal friends. He added that “the new investors, like the existing shareholders, have had extremely successful careers mainly in investment banking and investment management. We are fortunate to have a very talented shareholder group who will support our unchanged strategy of growing the long-term value of Monitronic”.

ENDS

Notes to Editors

For more information contact:

Company Spokesman

Name Peter Wollege, Group Chief Executive, Monitronic Safe Deposits Limited
Email cb@monitronicsafevaults.com 

Corporate Finance Advisor

Name Jonathan Lack, Partner, Intrinsica Partners Limited
Email jonathan.lack@intrinsicapartners.com