Incentive Divests To Bidvest

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03 February 2020 | Updated 04 February 2020

Bidvest Noonan has acquired the security only contracts held by Incentive Lynx Security from Incentive FM Group for an undisclosed fee.

The decision by Incentive to divest themselves of their manned guarding business follows a strategic decision by the Group to focus on its core capabilities in other FM disciplines. The Incentive Group will now reduce down to five trading companies.

Bidvest Noonan has indicated that they will work closely with Incentive to support ongoing operations and with regards to the acquisition, no redundancies are expected as a result.

 

“The UK manned guarding business is highly competitive. Current margins are better suited to a larger organisation that can apply economies of scale."

– Jeremy Waud

Incentive FM Group Chairman

London presence

 

Declan Doyle, CEO of Bidvest Noonan said: “We have a large and established manned guarding business in the UK and particularly in London where the bulk of the Lynx Security work is delivered. This acquisition is a great fit for us in terms of the staff and the customer base. We are excited by this opportunity.”

 

Economies of scale

 

Jeremy Waud, Chairman at the Incentive FM Group, said: “The UK manned guarding business is highly competitive. Current margins are better suited to a larger organisation that can apply economies of scale. We will continue to provide security services directly as part of a TFM or multi-service contract to both existing and new customers through Incentive Facilities Management, including Bluewater Shopping Centre and numerous other key sites around the UK.”

 

Picture: A guard from the Lynx Elite service – Bidvest Noonan has acquired the security only contracts held by Incentive Lynx Security.

 

Article written by Brian Shillibeer | Published 03 February 2020

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