G4S acquires UK key holding firm

Security firm G4S has acquired Chubb Emergency Response from UTC Fire & Security, a unit of United Technologies.

G4S will pay a maximum consideration of £17m in cash for the business, £14.3m of which was paid on completion of the acquisition.

Chubb Emergency Response is a key holding and mobile patrol business providing coverage throughout the UK to over 7,000 customers across 22,000 locations via a network of 28 offices and 247 employees.

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Doug Hewitson, Group Managing Director G4S Secure Solutions (UK), said: "The acquisition will significantly strengthen the strategic development plans of G4S's existing Monitoring & Response capability, allowing it to grow its patrol and response operations across the UK."

The share price rose 2.07% to 285.5p by 13:59.

NR