Mitie to acquire Vision Security Group from Compass.

Mitie Group plc has agreed to acquire Vision Security Group Limited, provider of integrated security systems, manned guarding and key holding services and a wholly owned subsidiary of Compass Group PLC for £14 million. The consideration of £14 million (on a debt free, cash free basis) will be paid in cash at completion, subject to any adjustment for final completion accounts, and will be funded through Mitie's own cash resources. The acquisition of VSG further strengthens the position of Mitie's Total Security Management business as one of the leading providers of integrated and risk-based security services in the UK. In particular, the combination will offer opportunities to accelerate the growth of Mitie's premium technology-enabled and intelligence-led security solutions.