SecurityWorldHotel

04/01/2017

G4S sells Utility Services arm in the UK

London, UK

G4S has completed the sale of G4S Utility Services, its UK multi-utility metering services business, to First Reserve, the majority shareholder in Morrison Utility Services Group, for £52 million paid in cash. Proceeds from the sale will be used for general corporate purposes. G4S Utility Services comprises G4S Utility and Outsourcing Services (UK) Limited; G4S Assessment Services (UK) Limited; G4S Locks & Alarms (UK) Limited.

According to G4S, In the year to 31 December 2015, G4S Utility Services generated profit before taxation of £8 million. At 31 December 2015 the business had gross assets of £48 million and net assets of £18 million.  As part of the transaction, senior management in G4S Utility Services will remain with the business at completion.

Commenting on the transaction, G4S Group Chief Executive, Ashley Almanza, said:  “The sale today of the utility business is part of the Group’s portfolio management programme which is greatly improving the Group’s strategic, commercial and operating focus. To date we have closed or concluded binding agreements to sell 32 businesses, with aggregate disposal proceeds of £433 million since the start of the programme in 2013.”


Tags

Product News

Airlive Model: POE-GSH2624-370

Airlive releases new generation intelligent PoE switch

Airlive, a global provider of network communication and IP Surveillance solutions, is launching a new generation of intelligent PoE switch, POE-GSH2624-370.  The POE-GSH2624-370 features graphical management, device monitoring, auto topology, camera live view, smart PoE, and L2+ management all-in one unit.  Besides providing full power to PoE AP, IP camera, IP phones, the new intelligent PoE switch also supports a graphical management environment to help trouble shoot a network facility and auto repair it when devices are defined as not functioning. This greatly increases the device up-time and system availability in addition to reducing the man-power cost. The device is also compatible with the 802.3az green Ethernet standard to provide energy saving when a device is not in use.

Business News

Hitex hits the Discovery channel

Hitex International, a leading global provider of road safety and surfacing solutions, is showcased in the forthcoming series of How Do They Do It?, the long-running Discovery Channel series that focuses on important engineering and scientific advances and the people whose ability to solve problems make them happen. The show's slogan is "Behind the ordinary is the extraordinary" and the series is broadcast throughout the world on various Discovery-owned networks.

Product Suppliers
Back to top