The facilities management contractor Mitie has acquired GBE Converge Group, a fire, security and information and communications technology (ICT) installation company, for £27m (an initial payment of £20m and deferred payments of up to £7m over three years, linked to performance).
GBE fits fire detection and suppression systems, access control, intruder alarms, CCTV, and security management systems. The company also provides the ICT and network infrastructure to support these systems. GBE works in the UK and on the Continent, for government and in the construction, data centres and ICT sectors. It holds industry certifications, including accreditations to install and maintain systems for many equipment manufacturers, such as AMAG, Cisco, Honeywell and Siemens.
Mitie’s points to its recent acquisitions of the trainers and consultants Linx International (in April) and RHI Industrials (May). GBE also has the potential to provide complementary services to JCA Engineering (acquired in September) in delivering complex engineering projects in critical settings, such as data centres.
For the 12 months ended 31 December 2022, GBE’s revenue was £36m (17 per cent year on year growth). The acquisition will be funded from Mitie’s existing facilities.
Phil Bentley, Group Chief Executive of Mitie, pictured, said: “We are delighted to welcome the GBE team to the Group. As our customers’ needs for facilities transformation evolve and demand grows for ‘smart buildings’, Building Management Systems are increasingly converging with Fire & Security platforms. The acquisition of GBE brings sophisticated intelligence-based Fire & Security capabilities and enables Mitie to broaden the range of projects we can self-deliver for our customers in the built environment.”
And Jason Buttle, Found & Chief Executive, GBE Converge Group, said: “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.”
