Paul Macdonald

Ownership of the Tayside business, which has been providing locksmith, access control and home security services since 1984, has transferred from Mike and Therese Devlin to the business’ management team comprising their son Steven Devlin and two long-serving employee managers, Dale McIntosh and Anthony Robb.

The Devlin family acquired Lock Shop & Security Services in 2000 and it formed a business alignment with the Devlin family’s Scotland-wide Electro Guard Fire & Security business.

As well as advising on the Lock Shop & Security Services ownership transition, Paul Macdonald, corporate and M&A partner at Harper Macleod, also advised on the sale of Electro Guard Fire & Security to the global security provider Scutum Group in 2022.

Mike and Therese Devlin said: “When we decided to step back from the day-to-day management of the Lock Shop business, continuity of service for our loyal customers was paramount.

“Steven, Dale and Anthony already know the business and its customers inside-out, so it has been a seamless transition. We know that, as a dedicated team, they’ll take Lock Shop on from strength to strength.

“We would like to thank Paul Macdonald and the team at Harper Macleod for their professionalism and diligence in helping us achieve this move. They are always there to answer any questions and knew what we were looking to achieve from the outset.”

The transaction was led by corporate and M&A partner Paul Macdonald, with support from Aiden Paterson, Duncan Walker, Caroline Summers and Lydia Murchison.

Mr Macdonald said: “It’s been a privilege to work with Mike and Therese again on the next phase of their business succession planning.

“They were clear that one of the key priorities was to preserve the values and legacy of Lock Shop, which has built up a market-leading reputation in Dundee and Tayside, under the stewardship of the new management team.

“Our role is to deliver tailored solutions that meet the needs of our clients while securing the future of their businesses. The Lock Shop transaction is a prime example of how a carefully considered business succession plan can facilitate a smooth transfer of ownership without disrupting day-to-day operations.

“We wish Steven, Dale and Anthony the best of luck for the future.”

Tax planning and structuring advice was provided by EQ Accountants and Ross Strachan & Company assisted with certain property aspects.