UK Facilities Management (FM) company, Mitie Group, has expanded its security services in Spain through the acquisition of Grupo Visegurity.
Mitie agreed to purchase Visegurity for £9.2 million, beginning with an initial payment of £7.5 million, followed by another payment of £1.7 million related to performance deferred over two years.
Barcelona-headquartered Visegurity has more than 20 years of experience in security services, primarily focusing on manned guarding, alarm response and access control, alongside concierge, patrol and security systems services, supported by a 24/7 control centre.
It operates in both the public and private sectors, serving customers in local government, healthcare, pharmaceuticals and telecoms.
In the 12 months ended 31 December 2023, Visegurity delivered revenue of €18 million (+13 per cent YoY) and EBITDA of €1.5 million (+4 per cent YoY).
The company employs more than 600 professionals who will join Mitie’s team of 8,400 colleagues in Spain.
Mitie said in a highly fragmented FM market, where participants are predominantly single service, the acquisition of Visegurity, alongside Biservicus in September 2023, represents a strategic expansion of its security capabilities.
“This acquisition significantly enhances our service offering in Spain, adding national security expertise and a broad customer base, to complement our existing relationships,” said José Luis García Hurtado, managing director – Mitie Spain.
“We see significant opportunities in the fragmented and growing Spanish FM market to drive organic and inorganic growth in our Spanish business over our new Facilities Transformation Three-Year Plan (FY25 – FY27). We are delighted to welcome the Visegurity team to Mitie.”
Pedro García Salayet, managing director – Grupo Visegurity, added: “Becoming part of the Mitie Group and having access to their blue-chip customer base and their financial strength, will lead to greater opportunities to grow our security business in Spain. I am excited about what the coming years will bring.”
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