News
LDC-backed WCCTV recognised by the BVCA for ESG, diversity and innovation
5 Jul 2024
LDC portfolio company WCCTV has been recognised for its exceptional performance in ESG, diversity and innovation as part of this year’s BVCA Vision Awards.
Vision 2024 celebrates the standout management teams of the last year, recognising both the portfolio companies and the impact of their investors. The annual award series considers growth, competitiveness, innovation, ESG and overcoming industry challenges, with an additional focus on the future.
Rochdale-headquartered WCCTV, the UK’s leading supplier of wireless surveillance products, has been named one of this year’s winners in the North West.
The management team, which was backed by LDC at the start of 2021, was praised for making commitment to ESG principles a cornerstone of the business’ operational strategy. This includes implementing numerous environmental practices, such as the internationally recognised ISO14001 standard for Environmental Management Systems, as well as solar-powered surveillance towers with carbon-friendly methanol fuel cell backup, and switching to hybrid and electric vehicles.
The team was also commended for actively promoting diversity, both by increasing its female workforce from 18% to 28%, and the percentage of employees of different ethnicities from 11% to 34% over the past three years. Elsewhere, innovation was called out as central to WCCTV’s ethos, specifically the recent launch of its Stellifii platform, a 5G-ready video transmission system, which the BVCA said exemplifies the business’ commitment to technological advancement.
The impact of LDC’s investment was credited with helping WCCTV to grow turnover from £25.3m to £31.9m in 2023, with EBITDA rising by over 20% to £10m during the same period. The business’ US operations also grew rapidly last year, with turnover more than doubling to $11.7m (£9.1m).
The BVCA said the strategic positioning achieved through LDC’s investment to date has set WCCTV up for a successful financial year ahead, supported by a 30% increase in headcount and a forecasted increase in repeatable revenue.
The judges commented: “WCCTV has proven its ability to remain competitive in a dynamic market. The company’s strategic partnership with LDC facilitated significant expansion in both the UK and the USA. WCCTV has made significant strides in its ESG commitments and their sustained performance and strategic foresight underscore both its past achievements and is well positioned for future success and sustainability.”
David Gilbertson, CEO of WCCTV, added: “The investment has essentially turbo-charged growth, both in the UK and internationally. It’s allowed us to invest more quickly in recruitment, opening new locations, new product development and having enough stock on the shelf to capitalise on large scale opportunities.”
The partnership with LDC has enabled WCCTV to accelerate our growth journey. They have provided valuable support and guidance to the WCCTV leadership team, enabling us to develop new security technology and expand in the UK and America. We have also made significant strides in our ESG initiatives, this has continued to improve our company culture, resilience and innovation within our team. We are looking forward to a very exciting future.”
Our congratulations go out to the other businesses that have been recognised in the BVCA’s Vision 2024: North West & North East. You can view the full list of winners and read about their achievements here.
