June 29, 2022

Triangle Fire Systems – Investment sparks growth plans

Since its creation in 2006, Hastings-based Triangle Fire Systems has enjoyed consistent growth within the south-east and London thanks to the quality of its service. Following significant investment from BGF – one of the UK and Ireland’s most active growth capital investors – the company is now looking to widen its net across the rest of the country.

As part of the BGF deal, which it is hoped will give Triangle Fire Systems the impetus to push forward with its expansion plans, the company has appointed Mark Castle to the role of Non-Executive Chairman. A Chartered Surveyor with a career spanning four decades, Mr Castle has previously been Chairman of Build UK and has held senior leadership and board roles at Mace Group, Wates Group and StructureTone. He is also a Non-Executive Director of both Mace Group and Eleco Plc. His appointment follows an introduction from BGF’s Talent Network – the largest pool of non-exec talent in the UK and Ireland.

Colin Chantler, CEO at Triangle Fire Systems, said: “We were absolutely delighted to secure the funding from BGF, which is amongst the most significant developments in the company’s history. The investment, alongside Mark’s unparalleled experience, will help us grow our reach and expand our services across the residential and commercial property market. It will also enhance our ability to offer more complete packages to clients.

“The investment from BGF will enable us to expand our team of 100 specially trained staff and establish new service lines. We will also look to pursue a targeted buy and build strategy to complement our organic growth and add to the business we have already established in the south-east and London.”

Growing pressure on contractors and developers to take responsibility for fire safety, coupled with increasingly rigorous regulation designed to ensure that all buildings have the appropriate measures in place, has led to a growing number of opportunities within the marketplace. Against this backdrop, Triangle Fire Systems has delivered consistent growth and achieved revenue in excess of £21m in 2020, the same year it was recognised as one of the ‘1,000 Companies to Inspire Britain’ for the second time. The report, by the London Stock Exchange Group, identifies the UK’s fastest-growing and most dynamic small and medium sized businesses (SMEs) highlighting the regional and sector diversity of the UK’s SMEs and the entrepreneurial spirit shown by these companies.

“We’re now looking at further acquisitions to enable us to expand regionally and the products and services we offer,” adds Mr Chantler. “The financial support and guidance from BGF allows us to be proactive and more ambitious with our plans to grow over the next five years. We finalised our first acquisition in July of last year. This involved the purchase of BM Sprinklers, which will assist greatly in our move into East Anglia.”

In addition to its expansion plans, Triangle Fire Systems has been ensuring its service remains strong having recently gained ISO 14001, complementing its existing ISO 9001 accreditation. In terms of work, retrospective installation to council and social housing continues to represent a large part of the company’s revenue and a team has been set up to specialise in that sector. It is close to completing its largest contract to date: a retrospective installation to 175 occupied tower blocks for Birmingham City Council. This follows the completion of other major projects including the 55-storey Newfoundland Tower block and the 28-storey One Crown Place tower block, in addition to two tower blocks at Embassy Gardens and two phases of work at the Battersea Power Station development.

Despite the ongoing success it is enjoying and the boost that the BGF investment will bring going forward, there are hurdles that Triangle Fire Systems is having to contend with, such as the rising cost of materials that are continuing to drive uncertainty across the wider marketplace. Thankfully it has established an excellent supply chain over the years, which has helped to instil a greater degree of stability. What’s more, a list of high calibre regular preferred clients is continuing to play a key role in its development.  

With such a strong order book being complemented by the robust infrastructure and supply chain it has generated, Triangle Fire Systems is looking forward with confidence, as Mr Chantler concludes: “We’re seeing major opportunities for regional expansion and in due course we’ll add further offices in East Anglia and the Midlands. In terms of specific product areas, fire penetration is looking particularly promising and is something we’ll be focusing on strongly as we work towards meeting our targets in this area over the next 12 months. It’s a very exciting time and we’re keen to push on with the process of taking the business to the next stage in its development.”