FONT-SIZE Plus   Neg

G4S To Dispose US Government Solutions Business - Quick Facts

UK's private security firm G4S Plc (GFS.L, GFSZY.PK), following a strategic business review, has decided to divest its US Government Solutions business.

G4S Government Solutions Inc. provides security, fire protection, facilities management, training and mine clearance services to US Government organisations, including the Departments of Energy, Homeland Security and Defense in addition to international organisations like NATO and the United Nations, both within the U.S. and overseas. G4S Government Solutions' revenues totaled about 400 million pounds in 2012.

G4S hopes that an alternative parent would be able to create or add more value to the business than G4S. As a non-US parent, with restricted access to important commercial data, the company said its ability to manage the business and share best practice is severely limited.

G4S would retain its US commercial security business, that provides a broad range of security services and technology to commercial companies and Government departments at a Federal, State and local level, where high level security clearances are not required. The revenues of this business, combined with G4S' other ongoing US operations were around 1.2 billion pounds in 2012.

Houlihan Lokey was appointed to manage the disposal process and the transaction is likely to complete within the next six months.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Flying is the passion for British aviatrix Tracey Curtis Taylor, and she is now on a solo flight to cross three continents and 23 countries in her own vintage open cockpit biplane. She has already crossed half of her journey from U.K. to Australia with a target to cover 13 thousand miles. Sony Computer Entertainment Inc. Wednesday revealed that its popular PlayStation4 computer entertainment system has achieved total sales of more than 30.2 million units worldwide in a period of two years. The PS4 system is currently available in 124 countries. Cement giant LafargeHolcim (HCMLY.PK, HCMLF.PK), formed by the combination of French Lafarge and Swiss peer Holcim, Wednesday said its sales declined for the third quarter as well as nine months.
comments powered by Disqus
Follow RTT