The Incentive FM Group agreed to the sale as part of a wider strategy to refocus their efforts on improving their core business in Facilities Management through its’ five other businesses. No redundancies are expected to result from the sale of the contracts and the two companies will work closely together to maintain the ongoing contracts.
“We have a large and established manned guarding business in the UK and particularly in London where the bulk of the Lynx Security work is delivered. This acquisition is a great fit for us in terms of the staff and the customer base and we are excited by this opportunity”, said Bidvest Noonan CEO, Declan Doyle.
“The UK manned guarding business is highly competitive, and the current margins are better suited to a larger organisation that can apply the economies of scale. We will continue to provide security services directly as part of a TFM or multi service contract to both existing and new customers through Incentive Facilities Management, including Bluewater Shopping Centre and numerous other key sites around the UK,” said Incentive FM Group Chairman, Jeremy Waud.