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Illuder-com finds a buyer

While the current woes of the banking and finance sectors have been well-documented, the recent purchase of leading surveillance equipment provider Illuder points to growing confidence in the counter-cyclical security industry.

Now is the time to invest in businesses that do well in economic downturns, that is according to the new owner and managing director of Illuder, Alan Russell. The former financial director of a listed company, Russell switched the boardroom for the control room after being impressed by Illuder’s 125% annual growth over the past four years and having a sense that prospects could only improve as the credit crunch began to bite.

Illuder has been operating in its current form since 2005. Under former owner Mohammad Patel, the company became a regular exhibitor at Securex and one of South Africa’s biggest distributors of the Augen range of CCTV products.

“My feeling is that we are likely to see a number of changes in the wider security industry this year as investors identify opportunities that appear more promising than those on offer within particularly hard hit industries such as banking, finance and the motor vehicle trade,” commented Russell. He added that this year’s Securex exhibition might well turn out to be a top priority for potential investors in the security industry.

Russell said no staff changes would be made at Illuder and the company would largely function as it has in the past. The new shareholding structure at Illuder was effective from 1 March 2009.

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