Mitie expands Spanish security footprint with Visegurity acquisition
LONDON, UNITED KINGDOM — UK-based facilities transformation company Mitie Group plc has announced the acquisition of Grupo Visegurity, a Spanish security firm, for a maximum consideration of €11 million ($12 million).
“This acquisition significantly enhances our service offering in Spain, adding national security expertise and a broad customer base, to complement our existing relationships,” said José Luis García Hurtado, Managing Director of Mitie Spain.
Expanding Mitie’s Spanish security services
The acquisition of Visegurity, a Barcelona-based company with over 20 years of experience in security services, adds more than 600 employees to Mitie’s existing workforce of 8,400 in Spain.
Visegurity specializes in manned guarding, alarm response, and access control, alongside concierge, patrol, and security systems services, all supported by a 24/7 control center
“We see significant opportunities in the fragmented and growing Spanish FM market to drive organic and inorganic growth in our Spanish business over our new Facilities Transformation Three-Year Plan (FY25 – FY27). We are delighted to welcome the Visegurity team to Mitie,” Hurtado added.
Great news that we’re welcoming @Visegurity to @Mitie. With over 20 years of security experience across Spain, the team will bring a suite of specialist services to our growing Spanish business, including in manned guarding, security systems, alarm response, and access control. https://t.co/2yAzghnZoC
— Phil Bentley (@PhilBentleyCEO) October 7, 2024
Financial impact and market position
Visegurity has demonstrated strong financial performance, with revenue of €18 million ($19.8 million) or +13% year-on-year and EBITDA of €1.5 million ($1.6 million) or +4% year-on-year in the 12 months ended 31 December 2023.
This acquisition, along with the previous acquisition of Biservicus in September 2023, represents a strategic expansion of Mitie’s security capabilities in a highly fragmented FM market.
Pedro García Salayet, Managing Director of Grupo Visegurity, commented on the merger, saying, “Becoming part of the Mitie Group, and having access to their blue-chip customer base and their financial strength, will lead to greater opportunities to grow our security business in Spain. I am excited about what the coming years will bring.”
Mitie Group, founded in 1987, employs 68,000 colleagues globally and serves around 3,000 blue-chip customers across public and private sectors. It offers various outsourced services including facilities management, security, cleaning, landscaping, energy management, and technical services.
The company has demonstrated strong financial performance, delivering a total shareholder return (TSR) of 80% over its previous three-year plan (FY22 – FY24).
