Acquisition of Plantech, Brazil
G4S, the world’s leading international security solutions group, today announces its growing presence in the Brazilian security market with an agreement to acquire an initial 51% shareholding in Plantech Engenharia e Sistemas Ltda (“Plantech”).
Plantech, a leading integrator in the Brazilian security systems market, has gross assets of £9.5 million and will be acquired from its management owners Mr. Helio Ferraz (CEO) and Mr. Fernando Haaland (CFO). The acquisition is expected to complete in the next week and G4S has options to increase its stake at a later date.
The acquisition marks the second stage of G4S’s entry into Brazil, which is the fifth largest security market in the world. The Brazilian market offers excellent economic growth prospects, helped by vast natural resources including significant oil and gas discoveries, and the expectation of one-off benefits from the World Cup in 2014 and the Olympic Games in 2016.
Plantech had revenues of £10.3 million in the first six months of 2010. Founded in 2001, it provides fully integrated solutions to a wide-ranging customer portfolio that includes 130 multinational clients across the key sectors of ports, airports, public transportation, hospitals and hotels.
Comments from G4S CEO Nick Buckles
“The combination of Plantech with our earlier acquisition of Instalarme will immediately double our sales revenue in Brazil and gives us a market-leading position in one of the world’s most exciting and fastest growing security markets.
“Plantech represents an excellent next step, following our recent market entry, providing impetus through its complete security systems product offering and a strong platform for future development through its management talent and in-house technical expertise.
“We expect that by 2012, G4S will have revenues of around £50 million in Brazil and be growing around 15% per annum.”
Plantech has four main business segments covering the full systems integration capability:
- Physical Security Systems (PSS) – installation of security systems such as access control, video monitoring, intrusion detection, fire detection and suppression systems for commercial and industrial buildings;
- Building Management Systems (BMS) – design, installation and maintenance of BMS for commercial and industrial buildings, as well as subway stations, airports and others sectors;
- Maintenance – maintenance and technical support for systems and equipment in PSS and BMS;
- Energy Efficiency – monitoring, control and management of energy consumption for production facilities
Plantech has approximately 400 employees and is headquartered in São Paulo with two additional branches in Rio de Janeiro and Paraná.
In June 2010, G4S announced its entry into the Brazilian market with the acquisition of Instalarme, the leading provider of security systems to the Brazilian financial sector.