In 2014 we changed our financial year end to the 30th June of each year.
2014 was a year of transition and as such was a difficult year, especially in overrunning M&A activity. The transition related to a significant shift into smarter products. The two mature developed products were significant contributors to the Interconnective Security Products division namely, The Partner Patrol System 38.9% (2012 – 27.9%) and Jack Ellis Body Protection 42.5% (2012 – 34.5%). Our newly launched SecurityGear Website contributed 12.14% to turnover. Disappointingly, the smart products contributed 6.46% to turnover.
Our newly launched webstore has been developed to sell traditional security equipment online. The SecurityGear range includes metal detectors, under and over vehicle search mirrors as well as over 200 other basic security products.
We dropped the rapid deployment alarm the Xumo due to performance issues.
The Logue Corporate M&A business, a trading entity of Interconnective Limited, did not complete any acquisitions this year but has five deals expected to complete in 2015.
Logue Corporate produces the multi award winning security industry news website, Infologue.com, which hosts the well known list of the Top 20 largest UK security services companies. In 2014 Infologue.com extended its list to the Infologue.com Top 30 largest security service companies.
Interconnective Ltd, changed its financial year end from December to June with effect from 2014. This meant that the company had an 18 month trading period. Interconnective was once again profitable and for the first six months of the 2014/15 period, trading exceeded expectations.
2013 saw significant advances in our journey in so far as the transition to smarter products was concerned. In addition one of our current team, Chris Lanchbury, received 5% shares in Interconnective Limited. His share certificate was handed to him by the Secretary of State for Work and Pensions at a ceremony in November 2013. Chris was the first employee Interconnective employed as part of our 2010 policy of employing staff directly from education.
The Logue Corporate M&A business, a trading entity of Interconnective Limited, again increased its year on year turnover by 65% by acquiring businesses on behalf of their clients:
Logue Corporate produces the multi award winning security industry news website, Infologue.com, which hosts the well known list of the Top 20 largest UK security services companies. In 2013 Infologue.com extended its list to the Infologue.com Top 25 largest security service companies.
Interconnective Ltd was once again profitable.
Improved trading conditions in the UK, the addition to the Interconnective Security Products smart product range and a significant improvement in the performance of Logue Corporate resulted in an 85.1% increase in turnover for Interconnective Limited. The business showed a modest profit in 2012. Interconnective Ltd laid the foundation for employee ownership with a focussed products subsidiary. In addition we divested our interests in non-core businesses.
Implementing our new vision and strategy developed in 2011, Interconnective Security Products added the following new smart products;
Disappointingly, the Partner Max-i could not be released in late 2012, due to a delay in the issue of certification, but is now due to be released in January 2013.
Logue Corporate completed the following acquisitions in 2012; Lynx Security to Incentive FM Group Ltd, FGH Guardhall Ltd to Lodge Service Ltd, and Oak Park Security Ltd to Intacept Security Management Ltd.
The Managing Director of Interconnective Limited, Bobby Logue received the following industry accolades during 2012; the BSIA Services to Security Industry Award, and a finalist in the Association of Security Consultants, The Imbert Prize.
In order to reinforce our strategic focus on its core businesses Interconnective Limited sold its shareholding in Beyond Basics Training Limited. Mindful of the importance of its employees, Interconnective Ltd registered a subsidiary Interconnective Security Products Ltd, with the view of creating a focused products business in which our employees could become shareholders.
Trading was dire in all Interconnective businesses during 2011. This was the year Interconnective Ltd went through what the Queen once described as annus horribilis. Sales in the Interconnective Security Products division reached their lowest level since 2005. In respect of Logue Corporate three key deals due for completion in 2011 were rolled over to 2012. However the outlook for Logue Corporate in 2012 is strong. Notwithstanding the poor performance of both divisions, Interconnective Limited still made a profit in 2011.
Our main concern was the poor performance of our Interconnective Security Products division. The challenge was to understand the cause of the decline in our sales. Initial research indicated that our core customer base remained intact and we were selling into 19 of the top 20 UK security businesses. However, the quantum of purchase per customer had reduced significantly. At the same time the introduction of cheaper products from China was plagued with quality and poor customer service by the suppliers. On talking with our customers their feedback indicated we needed to refresh and create more focus on our product range. Meetings with end users of our products revealed a lack of understanding of their high performance capabilities. In addition we faced quality and service difficulties with one of our UK suppliers, with whom we terminated our supply agreement. The final issue of 2011 was the unacceptable delay in the launch of our new product, the Partner Max-I, a smart GPRS patrol system.
As a result of our experiences in the first nine months of 2011, using research and customer feedback, we formulated the following action plan which would be implemented over 2012 and 2013:
Interconnective Limited’s, Beyond Basics Training – the security industry training specialists, have won the 2011 British Institute of Innkeeping (BII) NITA Security Training Award. The competition judges were highly impressed with Beyond Basics 10 day security officer training programme and regarded it as an exemplar in the sector.
2010 was another growth year for Logue Corporate where the turnover of the division quadrupled. Especially impressive was their performance in the acquisitions arena for Logue Corporate where they facilitated four key deals which included the businesses of Perfectus Limited by Emprise Plc, Legion Group by OCS Group UK Limited and IPC by Churchill Contract Services Ltd. Churchill also acquired Knighthawk Security Limited. The Principal of Logue Corporate and Interconnective Ltd MD Bobby Logue said; “Once again our security market knowledge and intelligence assisted our clients in identifying strategic acquisitions that have added value to their businesses. Our consultancy services were once again in demand where we were successful in assisting several of our clients in refocusing their businesses in tough market conditions. There are six potential acquisitions that have been carried over to 2011”Infologue.com; Logue Corporate’s award winning news website readership grew significantly during the year largely through the new features section and stories in respect of the demise of the Security Industry Authority. Bobby Logue was the 2010 – The Association of Security Consultants (ASC) Security Associations Award (The Security Institute Nominee) element runner up of the respectedImbert Prize.
In respect of Beyond Basics Training Ltd 2010 was a year that saw major changes in the training industry. Changes to the competency specifications in the security sector resulted in changes to the training and qualifications needed for an SIA licence. The LCS changed to the SFA and all funding specification were changed dramatically which saw smaller businesses forced to form partnerships with larger organisations or fall out of the funding arena. The NQF was changed by Ofqual to the QCF which resulted in apprenticeships instead of NVQ’s. The MD of Beyond Basics Training Limited commented: “This forced us to make changes to our core courses offered which turned out to be beneficial and resulted in continuous growth for the company. We designed and developed courses to assist people out of work getting the necessary skills to put them in a better position for employment. We had a very successful SFA inspection and won some good tenders which should make 2011 an even better year.”
Due to the global economic environment our products division slowed but turnover was boosted by a stellar performance of Logue Corporate, Interconnective’s acquisitions and consultancy business. Our training subsidiary, Beyond Basics Training Ltd, doubled in size from the previous year, principally due to the introduction of a 10 day training course for frontline security personnel.
In the Interconnective Security Products division was made to become a UK focused business and curtail our overseas business interests. We divested our Chinese business, Apex Defense Systems, and will relinquish other overseas associations during 2010. During 2009 we refocused our Interconnective Security Products business into two central themes, Physical Body Protection and Electronic Monitoring & Verification. Physical Body Protection includes body armour and needlestick gloves with Electronic Monitoring & Verification focussing on equipment such as Body Worn Video Recording Equipment, Search & Detection and Covert Electronic Surveillance. The refocused business will, where possible, have an underlying objective to focus on using quality products with a British Heritage such as Adams Metal Detectors, RoboCam Body Worn Video and Jack Ellis Body Armour. Part of our refinement process entailed merging nine product websites into a single Interconnective Security Products website. Our online trading operation SecurityGear has become the test bench for new and secondary products.
Our security industry news website Infologue.com enjoyed a growth in page impressions due to the introduction of a new features section at the top of the Infologue.com website. Contributions to the features section included industry leaders such as the Chairs of the SIA, BSIA, The Security Institute and the Chief Executives of the BSIA, National Security Inspectorate and leading UK security companies. The annual Infologue.com Building the Future Award recognises the person or organisation that in the view of majority of previous winners of the Infologue.com Building the Future Award has created the most significant footprints towards a vibrant, professional and mutually profitable guarding industry during each year. The 2008 winner (presented in 2009) was the Chief Executive of G4S Cash Services, Ian Nisbet.
Interconnective Limited refines its strategic model with a vision to become a global supplier of police and security related products. As a result Interconnective spins off its training division, Beyond Basics to form Beyond Basics Limited which is to be run by independently its management. Interconnective refines its model with a vision to become a global supplier of police and security related products by 2013.
Interconnective Limited product division grows by 32.36% in 2007 with the Partner Patrol delivering turnover growth of 131%. Interconnective Limited opens a purchasing operation in the Peoples Republic of China to source security products for its SecurityGear an online trading operation which sells general security products. Interconnective Limited registers the Trade Mark – 5 Defences in 1 Armour – to underpin the Cuirazz Armour Brand.
Interconnective Limited Director, Bobby Logue, was awarded the initial Skills for Security Special Award for Outstanding Contribution to the Security Business Sector 2006 at the Skills for Security Conference 2006. Stefan Hay, Director of Strategic Development of Skills for Security said: “This is an award that people can not apply or be nominated for as its recipient is decided by the team at Skills for Security. We believe that our industry has many unsung heroes, who perhaps unlike many other award the recipient has no vested interest other than to lead our industry forward into the future, altruistically and with true passion.” Interconnective launched the brand SecurityGear to cover all its general Security Products focusing on direct sales through the Internet. Interconnective Limited has been featured in a Business Link case study. Interconnective’s Bobby Logue said: “We are delighted that are ongoing success has been recognised. Business Link is traditionally linked to funding but their facilitation with related organisations such as SEEDA, IIP and the local enterprise hub have been instrumental in improving our performance. Our key focus this year is to drive exports with the assistance of UKTI.”
Logue Corporate produced a 28 page study on possible scenarios as to the future of the guarding industry “Even dinosaurs can learn to dance”. This paper was serialised in a condensed 4 part series by the leading industry publication Security Management Today (SMT) . Jointly with SMT, Interconnective launched the campaign for improved industry regulation – Four Issues One Voice. Interconnective Limited enters into a joint venture in South Africa to develop and manufacture The Partner Patrol hardware and software. Interconnective registered the brand Cuirazz for its body protection products.
Logue & Logue Ltd acquired 100% of the shares of Interconnective Limited and absorbed Logue Corporate into Interconnective Limited. Interconnective expanded its product range introducing security officer equipment such as metal detectors, utility pouches and belts, key holding seals and pouches, and Pocket books & log books. Interconnective launched Beyond Basics, its support service division during 2004 focussing initially on security guarding training. Beyond basics has also opened a recruitment section New2Security, which focuses on introducing new entrants into the security market. Interconnective through its Infologue.com website and e-zine has sought to keep industry informed, drive professionalism, and call for improved but practical standards in the industry.
Logue & Logue Ltd acquired 100% shareholding in Interconnective Business Solutions and merged the business into Interconnective Limited.
Interconnective registered the brand the Partner for its patrol management system.
Logue & Logue Ltd invested in Interconnective Limited to market body armour to the UK commercial sector.
Logue & Logue Ltd invested in 25% of a newly formed company, Interconnective Business Solutions, to market Patrol Management Systems.
Interconnective roots can be found in a business started by Bobby & Debbie Logue in 1997 as a Mergers & Acquisitions consultancy focussing on the manned security industry trading as Logue Corporate (Logue & Logue Ltd). In the same year Logue Corporate launched a free security guarding e-zine called Infologue.com