Compass to buy security firm VSG Group
Compass Group has announced the acquisition of security services provider VSG Group in order to bolster its support services business.
The catering giant paid £64m in cash for the firm.
VSG, which operates across 1,200 client sites with 6,000 employees, posted revenues for the year ended 31 March 2010 of £121.3m.
Ian Sarson, Compass's UK managing director, said: "The VSG business will materially enhance the security element of our offering and provide a huge opportunity to sell these services to our existing clients.
"In addition, this will greatly enhance the security part of our ‘bundled' offer of soft services across all sectors."
VSG is the UK's fifth-largest security provider by revenues, with headquarters in Northampton and regional offices in London, Belfast and Dublin.
Completion, subject to customary conditions including Irish competition clearance, is expected to take place by the end of September.
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By Janie Stamford
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