Mitie Group Plc acquires Argus Fire

A significant development in the UK fire and security industry saw the acquisition of Argus Fire, an engineering-led fire systems business, by Mitie Group Plc for £38 million. This strategic transaction strengthens Mitie’s expanding Fire and Security division, positioning the combined business as a leader in delivering comprehensive fire safety services.

Enhancing Mitie’s Fire Safety Capabilities
Argus Fire, with over 40 years of experience in fire protection, detection, and alarm systems, will now integrate with Mitie’s existing fire safety offerings. This acquisition allows Mitie to better serve a broad range of sectors, including education, healthcare, logistics, retail, construction, and aviation. Mitie’s strengthened position in the UK fire and security market, estimated at £3 billion annually, highlights the growth potential of this key sector.

Headquartered in Stourbridge, West Midlands, Argus Fire brings a team of 200 employees and an experienced management group to Mitie. In the financial year ending March 31, 2024, Argus Fire achieved revenues of £44.3 million and an EBITDA of £3.8 million.

A Strategic Move for Both Businesses
According to Simon Woodings, Chairman of Argus Fire, the company’s recent growth created an ideal opportunity for joining forces with Mitie:
"The shareholders believe that becoming part of the Mitie family will provide a fantastic opportunity for both businesses to leverage their combined expertise and drive further growth."

Matt Lincoln, Managing Director of Argus Fire, expressed enthusiasm about the future:
"We are excited to be joining Mitie. The access to their blue-chip customer base, combined with their financial strength, opens up significant new opportunities for our team."

Mitie, a £4.5 billion FTSE 250 company with over 68,000 employees, serves approximately 3,000 blue-chip clients. The acquisition of Argus Fire follows Mitie’s previous purchases of GBE Converge and RHI Industrials, further enhancing its role as a leader in the fire and security market.

Advisory Teams and Key Stakeholders
Headpoint Advisors played a pivotal role in advising the Argus Fire shareholders throughout the sale. Emmet Keating, Partner at Headpoint, noted the cultural alignment between the two businesses, stating:
"We are pleased to have completed this transaction and believe it will be an excellent opportunity for both companies to grow and thrive."

This acquisition is set to create significant synergies between Argus Fire and Mitie, benefiting both their customers and employees, and strengthening Mitie’s position in the fast-growing UK fire and security market.

Headpoint Advisors