ArmorGroup, which has operations in 38 countries, provides services that include the long-term guarding people and assets on behalf of Government departments and contractors as well as multinational corporations in high risk situations. It also provides training in vehicle and weapons handling, and undertakes land mine clearance operations.
ArmorGroup operates in markets that are forecast to grow strongly in the medium term, driven by increasingly tight controls on corporate governance, the heightened perceived risk following recent terrorist attacks and an increase in military outsourcing. This year, the premium guarding market alone is expected to be worth $600 million.
With a hard-earned reputation for operational quality and ability, strong client relationships and demonstrable local knowledge on a global basis, ArmorGroup continues to experience growing demand for its services, with revenues for 2003 expected to exceed $100 million.
Speaking about the investment, ArmorGroup chief executive Jerome Hoffman told SMT: "ArmorGroup is well-positioned to respond to increasing global demand for premium security services. Our strong values and culture have helped us to maintain a market-leading position and the highest standards of service. We're delighted to have gained the support of Granville Baird Capital Partners, who've proven to be a responsive and reliable partner during the buy-out process."
Granville Baird Capital Partners has been active in the business services sector for over 15 years and, with this latest investment, now has six business services companies within its portfolio – the others being Controlex, ETC, Mentor Technology, Nobis and the Public Recruitment Group.
Source
SMT
Postscript
SectorGuard plc – the AIM-listed specialist manned security services provider – has announced its results for the year ending 30 September 2003. Turnover is up 73% to £12,752,659, with operating profit (before amortisation) standing at £1,010,519. That's a rise of 47% on the corresponding 2002 figures.
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