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 £4m.
Intruder had a turnover of £4.3m for the year ended 31 October 2004 and a pre-tax profit of £450,000.
If net assets on completion are valued over £950,000 then the acquisition price will rise by up to £500,000. Net assets at the year ended 31 October 2004 were £942,758.
Mitie chief executive Ian Stewart said: “This 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.”