ArmorGroup International Limited, provider of defensive protective security services and security training services, has said it intends to seek admission to the London Stock Exchange
The intended flotation will be by way of a placing of new ordinary shares in the company with institutional investors. The company reports it provides its services principally to first world national governments, international non-governmental organisations and multi-national corporations including Bechtel International Systems Inc, BP Trading Limited and Kellogg, Brown and Root Services Inc. It employs over 7,600 personnel in over 26 countries, principally in regions of the world with what it calls diminished law and order or with a high risk of terrorism or which were former areas of conflict including the Middle East, Africa, South America, the CIS and Asia. Group turnover is up strongly from US$98.2 million in the year ended December 2003 (2002: US$79.6 million) and further up to US$115.5 million in the eight months ended 31 August 2004. It points to demand due to global terrorism; wider oil and gas exploration; greater investment in security and reconstruction; and growth in outsourcing of security; plus increasing corporate liability concerns.
What they say
Jerry Hoffman, Chief Executive Officer, said: “We are delighted to be announcing our plans for a listing on the London Stock Exchange. Over the past two years the business has undergone a dramatic transformation and flotation is the natural next step in our strategy to be the leading international provider of defensive protective security services and security training. The protective security market is growing fast and should see sustained growth and new opportunities for the foreseeable future. ArmorGroup is well positioned in the market to capitalise on these growth opportunities due to its reputation, critical mass, client base and highly professional staff. We are confident and excited about the Group’s prospects going forward.” The Group adds that events over the last few years, including 9/11, the Bali nightclub bombings in October 2002, and the recent terrorist attacks in Istanbul, Madrid and Beslan, have highlighted the growing risks facing international organisations, whether private or public, and the increasing need to protect their people and infrastructure assets. Security for personnel and facilities has now become an integral, accepted and expected aspect of public and commercial life.
