International security solutions group G4S plc has acquired GSL via its holding company De Facto 1119 for £355 million payable on completion. Payment comprises £158 million for De Facto’s entire issued share capital and the assumption of up to £197 million net debt and working capital.

International security solutions group G4S plc has acquired GSL via its holding company De Facto 1119 for £355 million payable on completion. Payment comprises £158 million for De Facto’s entire issued share capital and the assumption of up to £197 million net debt and working capital.

GSL provides support services for governments, companies and public authorities and will expand G4S’ outsourcing offering.

Nick Buckles, chief executive officer of G4S, said: “The acquisition of GSL fits right into the heart of our strategy and is typical of our plans to acquire expertise in key service lines and sectors. We expect to move towards a higher proportion of long-term, recurring revenue contacts with G4S taking a broader range of responsibility for customers’ risk management and protection.”

The acquisition, currently subject to approval, is expected to be earnings enhancing in 2008.