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Treasury & Capital Markets
Barings backs Permaconn’s add-on acquisition of Romteck
Financing deal reflects optimism on growth prospects of alarm security business
The Asset 8 Jul 2024

Barings has provided additional debt financing for Permaconn’s bolt-on acquisition of Romteck.

Romteck is a pioneer in the fire alarm monitoring and emergency lift communications products and services industry in Australia. Permaconn, a portfolio company of Five V Capital, is a leading provider of alarm security software and wireless signalling to the alarm security industry.

By combining with Romteck's specialized capabilities in the fire monitoring space, Permaconn seeks to create a well-diversified business of scale with strong market positions in favourable but differentiated industries.

“We have been impressed by the growth of Permaconn since we initially committed credit facilities to Permaconn’s prior owners in 2021 and have continued to do so since Five V’s acquisition. We are delighted to expand our financial commitment,” says Justin Hooley, managing director at Barings’ Asia-Pacific private finance group.

Five V is a private equity and venture capital firm in Australia and New Zealand.

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