Sale of Argus Fire to Mitie Group Plc
Deal Summary
Headpoint Advisors has advised Argus Fire on its £38 million sale to Mitie Group Plc.
Headpoint has advised the shareholders of Argus Fire on the 100% sale of their business. The company is an engineering-led fire systems business with over 40 years’ experience in the design, installation, servicing and maintenance of active fire protection, detection and alarm systems. Argus Fire will enhance Mitie’s existing fire safety offering as it supports customers in meeting evolving legislative requirements.
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.
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Pictured: Henry Baker (Headpoint Associate), Emmet Keating (Headpoint Partner), Herb Bate (Argus Fire Founder) and Simon Woodings (Argus Fire Chairman)
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