Acquisition
29 April 2003 - 8:44PM
UK Regulatory
RNS Number:4905K
SectorGuard PLC
29 April 2003
SectorGuard Plc (or 'the Group')
Acquisition
Overview:
*Acquires manned guarding business of London Alliance Contract Services
*Increases the Group's turnover by #4.2 million and strengthens position
in London
*In talks with other potential nationwide acquisition targets
SectorGuard Plc, the AIM listed manned guarding provider has acquired the manned
guarding business of London Alliance Contract Services Ltd ('London Alliance')
for an initial payment of #500,000 in cash. Further consideration will be
payable over the next 12 months dependant on the performance of the acquired
contracts.
London Alliance has a solid client base predominately within the Greater London
area. It has a #4.2 million turnover and provides comprehensive manned guarding
services in a number of areas including large corporations, Local Authorities,
and Charities. Clients include Royal & Sun Alliance Plc, Heron Group Plc, Crown
Estates, the London Borough of Brent and Barnardos.
SectorGuard Chief Executive David Marks said: "This acquisition, our third and
largest since the beginning of 2003, significantly increases our presence in
central London and cements our position as a leading provider of manned guarding
solutions in the region. The deal expands our client base significantly and will
help solidify our reputation in the South East. Alliance has many blue chip
clients such as Royal & Sun Alliance and Heron, which both enhances our general
exposure and increases our credibility when attracting new business.
"Our strategy remains to become a leading supplier of manned guarding solutions
in the UK through organic growth and selective acquisitions. As a result we're
constantly on the look out for new business opportunities that can increase our
size, range of services and geographical spread. We have made a number of
significant acquisitions over the last year and we're currently speaking to
other potential targets and expect to make a further announcement soon."
SectorGuard, founded in 1998, supplies manned guarding solutions for an
expanding range of clients including Shell International, The Bank of America,
the London Borough of Camden 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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