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21 October 2018
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MITIE BUYS VISION SECURITY GROUP

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Mitie says the move gives it a 'leadership position' © iStock

8 October 2018 | Herpreet Kaur Grewal


Mitie has agreed to acquire Vision Security Group Limited (VSG) from Compass Group plc for £14 million.

 

The purchase will be funded through Mitie’s own cash resources.

 

The acquisition is part of Mitie’s strategy to focus on core businesses and the company states it will “increase the size of the security business by around 40 per cent”.

 

VSG is number four in the marketplace, with 6,000 employees.

 

Mitie states the acquisition will “bolster its presence in both retail and corporate sectors as well as increase its scale in London”.

 

The blend of sectors across two companies is “complementary” and offers “opportunities for expansion”, it added.

 

Phil Bentley, chief executive of Mitie, said the “acquisition gives us the leadership position we seek to maximise value from our technology-led solutions”. 

 

Jason Towse, managing director of Mitie’s security business, said the acquisition would “create the largest intelligence and technology-enabled security business in the UK”.