Pentagon Protection is to acquire related company IGS for up to £1 million.

Protective glazing film producer Pentagon Protection is to acquire related company International Glass Solutions (IGS) for up to £1 million.

An initial sum of £200,000 will be followed by a deferred performance-related payment in two years’ time, and the total consideration has been capped at £1 million.

IGS is to be acquired from Pentagon’s chairman Haytham ElZayn, who will also provide a working capital loan facility of £250,000 to Pentagon.

Steve Harrhy, a director at Pentagon Protection, comments that the acquisition of IGS will open up the US market and develop the company’s product range.

US-based IGS produces film-based window glazing products for improving building energy efficiency and security. IGS is managed by Patric Fransko, a non-executive director at Pentagon.

AIM-listed Pentagon Protection produces films that are applied to window glazing to increase their strength, and its products have been used in Waterloo International railway station in London and Singapore’s Changi Airport. The Buckinghamshire-based company states that the acquisition will support its plans to expand into the security industry.