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Mitie Group PLC - Glasgow-based engineering, security, and cleaning and hygiene services - Buys Grupo Visegurity, a security services provider based in Barcelona. Mitie will pay up to €11.0 million, including an initial €9.0 million and performance-linked deferred payments of up to €2.0 million. Visegurity recorded earnings before interest, tax, depreciation and amortisation of €1.5 million on revenue of €18.0 million in 2023. It employs 600 people and has a license to operate across Spain. Visegurity focuses on manned guarding, alarm response, and access control, Mitie says. ‘This acquisition significantly enhances our service offering in Spain, adding national security expertise and a broad customer base, to complement our existing relationships,’ explains Jose Luis Garcia Hurtado, managing director of Mitie Spain. ‘We see significant opportunities in the fragmented and growing Spanish [facilities management] market to drive organic and inorganic growth.’ Current stock price: 116.40 pence, down 0.9% in London on Monday 12-month change: up 20% Copyright 2024 Alliance News Ltd. All Rights Reserved.
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