£500 million turnover business services conglomerate the MITIE Group has made an ambitious move into the manned security market with the £8 million buy-out of Trident Safeguards.
Additional target-related increments could take the deal up to £11 million.

Trident is one of the south east's largest private sector contractors, focusing primarily on security services for the City's financial institutions, the major London museums and the Tower of London. The company boasts a current turnover of £23.4 million. The deal – first reported on the dedicated manned security sector news web site Infologue.com – sees Jim O'Hara stay on as chairman of Trident, with John Wright also continuing his highly successful managing directorship.

Speaking exclusively to Security Management Today about the acquisition, John Wright said: "This is a really positive move for us. At the moment MITIE has a small security arm, but the company is committed to building up this part of its business in a post-regulation landscape. In real terms, the acquisition of Trident Safeguards can be seen as the first building block in that process."

Source

SMT