Primary disposes of Pegasus Security Holdings Ltd
Primary has announced the sale of 100% of the share capital of Pegasus Security Holdings Ltd to ISS UK.
Pegasus, with annual revenues in excess of £40m, is a national provider of manned guarding services, headquartered in London but operating through a network of 8 regional offices throughout the UK. Originally founded in 1965 the organisation was subject to a management buy-in in 1998 backed by Primary. Since then it has seen significant organic growth and is now one of the top providers of manned guarding services to both Public and Private sector customers.
The acquisition is in line with the ISS strategy to broaden its Facility Services capabilities and will give ISS UK a significant platform entry into the Security Services market place. This will be at the centre of the ISS UK’s continuing growth and expansion of its ‘Office Services’ Operations.
The sale price represented a return of 5x the original cost of investment.
Contact Jackie Adams for more information
Tel: +44(0) 20 7920 4800
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