Mitie Acquires ESM Power
Mitie has agreed to acquire the Lincolnshire-based high-voltage electrical engineering business ESM Power in a deal worth £8.5 million. ESM Power will join...
Read Full ArticleMitie has acquired the UK fire systems business Argus Fire for £38 million.
Argus Fire, led by Matt Lincoln, designs, installs, services, and maintains fire protection systems such as sprinklers, inert gas, electronic fire detection, and alarm systems. The business works across the education, healthcare, logistics and industrial warehousing, retail, construction, transport, and aviation sectors, recently installing fire suppression systems at Battersea Power Station.
In the 12 months ended 31 March 2024, the company generated £44.3 million in revenue, which is two per cent more than the previous year.
Mitie’s acquisition is intended to grow its position in the UK fire and security market, providing cross-sell opportunities across its blue-chip customer base.
Jason Towse, Managing Director – Mitie Business Services, said: “The acquisition of Argus Fire brings deep technical capabilities and builds on Mitie’s position as a market leading provider of projects delivery, inspection and maintenance across a broad range of sectors in the c.£3 billion p.a. UK fire & security market. We look forward to welcoming Argus Fire’s c.200 colleagues to Mitie.”
Matt Lincoln, Managing Director – Argus Fire, added: “We are delighted to be joining Mitie. Having access to their blue-chip customer base, benefiting from their financial strength, and being part of a fast-growing fire & security team will lead to greater opportunities. I am very proud of our team and look forward to joining forces with Mitie’s complementary skills in fire & security.”
Picture: a photograph of a red fire alarm mounted on a beige wall. The alarm has a sign that reads "FIRE" in bold red letters at the top, and underneath, there's a message that says, "BREAK GLASS, PRESS HERE." The alarm is a standard emergency fire alert device commonly seen in public buildings to be used in case of fire emergencies. Image Credit: Pexels
Article written by Ella Tansley | Published 24 October 2024
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