“Mitie Bolsters Portfolio with £27 Million Acquisition of Fire, Security, and ICT Specialist”
Mitie Group Strengthens Its Presence with £27 Million Acquisition of GBE
Mitie Group has expanded its portfolio by acquiring GBE, an independent provider specializing in fire, security, and information and communications technology. GBE, headquartered in Gloucester with offices in Sheffield, London, and The Netherlands, boasts over two decades of expertise in delivering a wide range of products, including fire detection and suppression systems, access control, intruder alarms, CCTV, and security management systems. Additionally, GBE offers ICT and network infrastructure solutions to support these services, catering to clients across various industries in the UK and Europe.
This strategic acquisition further solidifies Mitie’s position in the intelligence and technology-driven fire and security sectors, following its recent additions of Linx International in April and RHI Industrials in May. The transaction will be financed through Mitie’s existing facilities, with a total cash consideration of up to £27 million. This sum comprises an initial payment of £20 million, with additional deferred payments of up to £7 million over the next three years, contingent on performance.
Phil Bentley, Group Chief Executive of Mitie, commented, “As our customers’ needs for facilities transformation evolve and demand grows for ‘smart buildings,’ building management systems are increasingly converging with fire and security platforms. The acquisition of GBE brings sophisticated intelligence-based fire and security capabilities and enables Mitie to broaden the range of projects we can self-deliver for our customers in the built environment.”
Jason Buttle, Founder and Chief Executive of GBE Converge Group, added, “Joining the Mitie Group and having access to their blue-chip customer base and financial strength will lead to greater opportunities to grow our business. I am excited about what the coming years will bring.”