Compass steals VSG for £64m
Northampton-based security company VSG Group has been sold to food and support services firm Compass Group for £64m. Compass has bought VSG from Lloyds Development Capital and management. VSG had revenues for the year ended 31 March 2010 of £121.3m.
VSG provides security services to a range of blue-chip clients across the UK. It offers security solutions, with award-winning expertise in manned security, electronic security and remote monitoring. Operating across 1,200 client sites with 6,000 employees, it is the fifth largest security provider in the UK by revenues.
Richard Cousins, Compass Group chief executive, said: "We are delighted with the acquisition of VSG which further strengthens our support services offer in the UK."
Completion is subject to customary conditions, including Irish competition clearance, and is expected to occur by the end of September.
