G4S has acquired the Brazilian security company Instalarme for £23.5 million.
Security firm G4S has acquired the Brazilian security company Instalarme Solucoes Eletronica for £23.5 million.
The acquisition of SSE Do Brasil, which is the parent company of Instalarme, was for an initial sum of £17.1million, with a further cash consideration of up to £6.4million subject to undisclosed performance targets for 2010.
Araras-based Instalarme has offices in five other Brazilian cities and 365 employees. The company was founded in 1975 and was acquired in 2001 by the private equity group Axxon. In 2009 it declared revenues of £15.9 million. The company installs and monitors security alarms for corporate and residential clients.
G4S has its headquarters in West Sussex and operates in over 110 countries. The acquisition gives it access to Brazil, the world’s fifth largest security market, as well as increasing its footprint in Latin America.
Nick Buckles, CEO of G4S says: ‘Instalarme represents an excellent opportunity to enter the substantial and growing Brazilian security market.’