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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.
Simon Woodings, Chairman of Argus Fire commented: “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.”
Matt Lincoln, Managing Director of Argus Fire added: “We are delighted to be joining Mitie. Having access to their blue-chip customer base, benefiting from their financial strength, and being part of a fast-growing fire & security team will lead to greater opportunities. I am very proud of our team and look forward to joining forces with Mitie’s complementary skills in fire & security.”
Emmet Keating, Partner, Headpoint who led the deal commented: “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.”
Emmet Keating was supported by Henry Baker and Victoria Bond on corporate finance aspects. Headpoint worked with Gateley (Max Moore, Claire Stretton and Sophie Gill) in advising the Argus Fire shareholders.
About Headpoint
Headpoint provides specialist corporate finance advice to owners of private companies. Our clients include business founders, family owners / managers and investors. We advise on company sales, acquisitions, management buy-outs, business valuations and raising growth capital.
For more information, please call Mark Wilson on +44 7966 319 161 or contact him on email at [email protected]
To know more about Headpoint please visit www.headpointadvisors.com
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