G4S plc UK DK : Acquisition
23 February 2012
G4S acquires Chubb Emergency Response
G4S, the world's leading international security solutions provider, announces the acquisition by G4S Secure Solutions (UK) Limited of Chubb Emergency Response, one of the UK's leading key holding and response services, from UTC Fire & Security, a unit of United Technologies Corp. (NYSE: UTX).
G4S will pay a maximum consideration of £17 million in cash for the business; £14.3 million of which was paid on completion.
Chubb Emergency Response is a key holding and mobile patrol business providing coverage throughout the UK to over 7,000 customers across 22,000 locations via a network of 28 dedicated offices and 247 employees.
The acquisition will significantly strengthen the strategic development plans of G4S's existing Monitoring & Response capability, allowing it to grow its patrol and response operations across the UK.
Doug Hewitson, Group Managing Director G4S Secure Solutions (UK), commented: "We are delighted to welcome the Chubb Emergency Response team to G4S, where they will enhance our existing monitoring and response service provision and offer a platform for future expansion in the marketplace."
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G4S is the world's leading security solutions group, which specialises in outsourcing of business processes in sectors where security and safety risks are considered a strategic threat. G4S is the largest employer quoted on the London Stock Exchange and has a secondary stock exchange listing in Copenhagen. G4S has operations in over 125 countries and more than 635,000 employees. For more information on G4S, visit www.g4s.com.
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Source: G4S plc UK DK via Thomson Reuters ONE