Fraikin accelerates with £27m boost
Coventry-based fleet management company Fraikin has invested £27m in its operations after securing a deal with joint venture company GEO Amey PECS.
Fraikin said it made the capital investment after securing a contract to provide 400 custodial cell vehicles to GEO Amey, a venture between detention services provider The GEO Group and public services giant Amey.
GEOAmey has been awarded three contracts by the Ministry of Justice in the UK for the provision of prisoner escort and custody services (PECS) for England and Wales.
Through the contract, the company will escort prisoners between courts and jails, and manage court custody suites and dock areas.
Fraikin will be responsible for managing the supply chain and will source the vehicles needed as well as arranging the finance, maintenance and management behind the transport.
The contract will run for an initial term of seven years and is the biggest single contract to be awarded in Fraikin’s history.
