Bidvest Noonan has acquired the security-only contracts held by Incentive Lynx Security from the Incentive FM Group Ltd for an undisclosed fee. The move follows on from a strategic decision by the Incentive FM Group Ltd to sell-off its security guarding business and focus on its core capabilities in other facilities management disciplines through its five trading companies.
The two businesses will now work closely together to support ongoing operations. No redundancies are expected as a result of this announcement.
Declan Doyle, CEO of Bidvest Noonan, said: “We have a large and established security guarding business in the UK and particularly so in London where the bulk of the Incentive Lynx Security work is delivered. This acquisition is a great fit for us in terms of the staff and the customer base and we’re excited by this opportunity.”
Jeremy Waud, chairman at the Incentive FM Group, responded: “The UK security guarding market is highly competitive, with the current margins better suited to a larger organisation that can apply economies of scale. We will continue to provide security services directly as part of a total facilities management or multi-service contract to both existing and new customers through Incentive Facilities Management, including at the Bluewater Shopping Centre and numerous other key sites around the UK.”