£20m-turnover Southport security and construction business EFT Group agrees lease with Sefton Council on land for its new headquarters and its 140 staff. Tony McDonough reports
Major Southport employer EFT Group will relocate its headquarters and 140 staff after agreeing 999-lease on multiple plots of land with Sefton Council.
EFT, which generates annual revenues of more than £20m, has taken the lease on three plots at Southport Business Park. As well as building its new HQ it will also add additional small business units as part of the ongoing expansion.
This deal will see the firm, which operates three divisions covering home security and automation, construction and domestic and commercial electrical services, leave its current home at Cobden Road in the town.
In its most recent accounts for the 12 months to December 31, 2023, filed on Companies House, the group revealed a significant rise in revenues from £13m in 2022 to £20.5m in 2023. Pre-tax profit also rose from just under £1m in the previous year to £1.3m.
Majority shareholder in the business is Adam Watt. Another shareholder, Jordan Duggan, also holds a significant stake of at least 25%. According to the accounts the company paid total dividends of around £890,000 in 2023.
This move, says the business, will accommodate ongoing growth while it remains committed to staying in Southport, where it employs a large local workforce and supports school-based apprenticeship schemes.
Cllr Marion Atkinson, leader of Sefton Council, joined directors Adam Watts and Stewart Meechan for the official unveiling of the new EFT Global headquarters.
Cllr Atkinson said: “This move represents yet another major step forward for Southport’s economic future. Not only do we retain a thriving local business but we’ll also bring new life to a site that has been underused for far too long.
“EFT Group’s investment will create high-quality jobs and opportunities for residents while demonstrating our commitment to supporting homegrown businesses.
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“By encouraging businesses to invest locally, provide apprenticeships and create meaningful employment, we are doing everything we can to secure the long term economic recovery and improvement of Southport and Sefton.
“Businesses recognise what an incredible platform this part of Liverpool city region can be for their own growth and for us it helps keep amazing talent in our borough, supports our care experienced young people into work and ultimately builds a stronger future for everyone in Sefton.”
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