G4S Completes Acquisition of Global Solutions Limited ("GSL")
G4S plc, the international security solutions group, is pleased to announce that, following receipt of the necessary competition clearances, the Group has today completed its £355 million acquisition of Global Solutions Limited.
GSL is an international leader in the provision of critical support services for governments, companies and public authorities.
Headquartered in Broadway, Worcestershire, UK, GSL employs approximately 9,000 staff in the UK, Australia and South Africa.
GSL is highly complementary to G4S's existing operations and the acquisition is an important step in the delivery of the Group’s strategy for accelerated growth and development based around a greater focus on long term outsourced contracts. In implementing this strategy the Group expects to acquire expertise in a number of key areas, with the acquisition of GSL being based upon a compelling strategic rationale:
GSL’s additional expertise in key markets such as the government sector provides G4S with opportunities to broaden its secure outsourcing offer to its customers;
GSL provides additional scale to G4S’s existing Justice Services activities, particularly in the UK adult and juvenile custodial, secure escorting, immigration and police sectors;
GSL provides an excellent platform for the international development of the Group’s Justice and Government services business in South Africa, Australia and Ireland;
The combined Justice Services business is well placed to benefit as the public sector continues to expand the breadth and depth of its outsourced activities;
GSL enhances G4S’s outsourcing credentials in the UK significantly, supporting the Group’s strategy of expansion into the long term Government and commercial outsourcing sectors; and
GSL’s long-term contractual relationships will help underpin future revenue and profit streams.
Commenting on the acquisition, Nick Buckles, Chief Executive Officer of G4S plc said: "The addition of GSL to our organisation is a major step in the next phase of our development, which will see G4S build wider and deeper partnerships with its customers in key sectors such as government, where we aim to become the secure outsourcing partner of choice. The acquisition of GSL fits right into the heart of this strategy, adding expertise in key service lines and sectors and enabling us to further develop our offer. We will now concentrate on integrating GSL into the Group quickly and efficiently and are excited about its future growth potential.”