British security group G4S purchases Denmark’s ISS in US$8.17 bil. deal


AFP

LONDON — British security group G4S on Monday said it had agreed to buy Denmark-based facilities company ISS for 5.2 billion pounds (US$8.17 billion), creating the world’s largest security and facilities group. G4S, which runs four prisons and is training security guards for next year’s Olympics in London, hopes to benefit from massive catering and cleaning operations run by ISS, which is owned by private equity companies EQT and GS Capital. The new group will employ 1.2 million people across the globe. G4S is looking to raise 2 billion pounds to help fund the takeover by selling new shares, while the deal also takes into account the groups’ debt levels. “G4S PLC., the international security solutions group, today announces the acquisition of ISS A/S for an enterprise value of approximately 5.2 billion pounds (US$8.17 billion, 5.9 billion euros),” a statement said. G4S chief executive Nick Buckles said the tie-up would “create the world’s largest integrated security and facilities services group.”

He added in the statement: “Since G4S was created in 2004, we have grown our business significantly and have expanded our service offering beyond our traditional security heritage into much broader areas of facilities services and outsourcing to meet growing customer needs.”