The FM contractor Mitie has acquired the security installer R H Irving Industrials Ltd, a specialist in security services, for £19.1m.
R H Irving Industrials has for 25 years been providing design, installation, and maintenance of electronic security systems, perimeter security fencing, gate automation, hostile vehicle mitigation, cyber protection, civil engineering, and earthing services. The company has a focus on regulated sectors, such as critical national infrastructure and utilities, and it has also been expanding its earthing work into growth areas where Mitie has also been expanding, such as 5G and electrical vehicle charging infrastructure.
Mitie reports that the fire and security systems side will go in Business Services, while the earthing services complement Mitie’s Projects and Technical Services businesses. The acquisition will be funded from Mitie’s existing facilities. For the year ended February 2023, R H Irving Industrials reported revenue of £17.4m and EBITDA of £2.4m.
Jason Towse, Managing Director, Mitie Business Services, pictured, said: “R H Irving Industrials is our second security-related acquisition in recent months, reflecting the Group’s strategy to invest in high growth, high margin companies in the key sectors of security technology, decarbonisation, and telecoms. The business both complements and enhances Mitie’s existing capabilities and customer base.”
