BNP Paribas Finalises Acquisition of AXA Investment Managers
AXA has sold its investment arm to BNP Paribas Cardif for cash proceeds of €5.1 billion. BNP Paribas Cardif is the insurance subsidiary of BNP Paribas, and has...
Read Full ArticleKingdom Services Group Ltd has completed the acquisition of Facilicom Cleaning Services and Trigion Security Services.
The move is intended to bolster Kingdom's cleaning and security credentials, and significantly increase its market share.
Kingdom, one of the largest privately-owned companies specialising in security solutions, cleaning, environmental protection and recruitment, has bought the two businesses from the Netherlands-based Facilicom Group.
As part of the deal, the manned guarding division of Trigion will merge into the continued expansion of Kingdom Security. The move will also see the launch of Kingdom Technology Ltd as a separate company, which will include fire and electronic security services.
All Facilicom and Trigion employees, including management, will transfer to Kingdom Services Group.
Terry Barton, CEO of Kingdom Services Group Ltd, said: “We are delighted to have completed the purchase of Facilicom and Trigion, our largest acquisition in our 28-year history. From initial conversations it was clear that we shared the same family-owned culture, values, and passions. Facilicom is a very successful business and has a fantastic reputation for service delivery and colleague investment so the acquisition complements and extends what Kingdom already do so well. This is the beginning of another new and exciting chapter, which will undoubtedly accelerate our growth vision and make Kingdom stronger than ever.”
Jan Hein Hemke, Managing Director of Facilicom UK & Ireland, added: "We are incredibly proud to be joining forces with Kingdom Services Group. With our joint vision for cleaning and security excellence, it is a great strategic fit and will enable us to bring an even stronger range of services to the market. The move also gives our colleagues an even brighter future as part of one of the largest support services businesses in the market. With ambitious plans for the future, we very much look forward to growing the business together.”
Picture: a photograph of two people signing a paper contract
Article written by Ella Tansley | Published 13 May 2021
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