Argus Fire
Business Services
Headpoint Advisors has advised Argus Fire on its £38 million sale to Mitie Group Plc.
Deal Type
M&A
Value
Undisclosed
Sector
Business Services
Year
2024
Country
UK
Managing competitive sales processes for leading private businesses.
Mitie is a £4.5 billion revenue FTSE 250 business that is headquartered in The Shard, London. It employs 68,000 colleagues and is the leading technology-led Facilities
Transformation company in the UK, with around 3,000 blue chip customers.
Argus Fire will join Mitie’s Fire and Security business, complementing the previous acquisitions of GBE Converge and RHI Industrials, and building on Mitie’s position as a leading provider in the high-growth, high-margin c.£3 billion p.a. UK fire and security market.
With a broad customer base and long-standing relationships across a broad range of sectors including education, healthcare, logistics & industrial warehousing, retail, construction, and transport & aviation, Argus Fire will bolster Mitie’s expertise in delivering complex projects for its customers across the built environment.
Argus Fire is headquartered in Stourbridge, West Midlands. Its 200-strong team – including its experienced Senior Management team bringing over 100 collective years’ experience in the fire protection industry – will be joining Mitie’s Fire and Security business. In the 12 months ended 31 March 2024, Argus Fire delivered revenue of £44.3 million and EBITDA of £3.8 million.
This deal demonstrates how Headpoint’s team can work with leading private businesses to deliver excellent outcomes for shareholders by managing highly competitive sale processes.
Having experienced significant growth over the last few years the shareholders believe becoming part of the Mitie family is both timely and a fantastic opportunity for the combined business to capitalise on existing expertise within Argus and Mitie providing a platform for further growth. The combined business will broaden its offering to customers requiring a joined-up approach to building management.
Simon Woodings, Chairman, Argus Fire
We are delighted to have delivered this sale to Mitie Group and excited about this opportunity for the Argus Fire management team and workforce within the wider business. It was very important for us to recognise the objectives of the shareholders and deliver a transaction that worked for all parties. What was clear from initial conversations was a strong cultural fit and that the leaders of the two businesses shared similar values. We believe this will prove to be an excellent transaction for both businesses and wish the Argus team members every success developing the business within the Mitie Group.
Headpoint Advisors is a founder-led corporate finance firm advising business owners, investors and management teams on company sales, acquisitions and growth capital. With offices in Birmingham, London and Reading, Headpoint combines partner-led delivery with deep sector expertise and international reach.
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