Acquisition
June 20 2003 - 12:00PM
UK Regulatory
RNS Number:6095M
SectorGuard PLC
20 June 2003
SectorGuard Plc ('SectorGuard' or 'the Company')
ACQUISITION OF FIRST RESPONSE SECURITY SERVICES LIMITED
Overview:
*Acquires First Response Security Services Ltd
*Increases enlarged Group turnover by #1.4 million
*Fourth acquisition in 2003
*Part of SectorGuard's active on-going expansion strategy
SectorGuard Plc, the AIM listed manned guarding provider has acquired First
Response Security Services Limited ("First Response") for an initial payment of
#150,000 in cash. Further consideration will be payable over the next 12 months
dependant on the performance of the acquired contracts.
First Response, which has a #1.4 million turnover, provides comprehensive manned
guarding services to businesses and landmark buildings in London and the
Midlands. The deal, which follows the acquisition of London Alliance Contract
Service, expands SectorGuard's profile and enhances its corporate offering.
SectorGuard Chief Executive David Marks said: "First Response has a solid
reputation of providing high quality security services. This acquisition, our
fourth this year, complements our core offering, increases our range of blue
chip contracts, provides further critical mass in the London market and builds
up our growing presence in the Midlands.
"We remain committed to our business model of building a company through
acquisition and organic growth. There are many smaller privately run manned
guarding outfits in the UK whose clients and staff would benefit greatly from
being associated with a larger and more centralised organisation. As a result we
continue to explore other opportunities, to build a company that provides
comprehensive and competitive manned guarding solutions nationally."
SectorGuard, founded in 1998, supplies manned guarding solutions for an
expanding range of clients including Shell International, The Bank of America,
The International Press Centre, the London Borough of Camden, CGNU and Sun Life.
Its services encompass static guards, mobile patrols and key holding and alarm
response.
ENDS
Contacts:
David Marks SectorGuard Plc Tel: 01279 724 777
Hugo de Salis/Isabel Crossley St Brides Media Tel: 020 7242 4477
This information is provided by RNS
The company news service from the London Stock Exchange
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