Support services firm Mitie buys security firm Intruder and announces plans to develop a national electronic security business.
Support services company Mitie has acquired electronic security solutions firm Intruder International for 拢4m.
Intruder had a turnover of 拢4.3m for the year ended 31 October 2004 and a pre-tax profit of 拢450,000.
If net assets on completion are valued over 拢950,000 then the acquisition price will rise by up to 拢500,000. Net assets at the year ended 31 October 2004 were 拢942,758.
Mitie chief executive Ian Stewart said: 鈥淭his is the first step in our plan to develop a national electronic security business that will complete our existing manned guarding business. Further growth will come from a combination of organic growth and additional acquisitions.鈥�
