FMJ Facilities Management magazine providing industry-specific intelligence to FM and property professionals
Mitie Group has acquired Grupo Visegurity, a leading Spanish security business.
Based in Barcelona, Visegurity has over 20 years of experience in security services, primarily focusing on manned guarding, alarm response and access control, alongside concierge, patrol and security systems services, supported by a 24/7 control centre. It has developed a strong reputation in both the public and private sectors and has a loyal customer base of national and regional customers across a wide range of sectors, including local government, healthcare, pharmaceuticals and telecoms.
In a highly fragmented FM market, where participants are predominantly single service, Mitie says the acquisition of Visegurity, alongside Biservicus in September 2023, represents a strategic expansion of its security capabilities. The business is highly complementary to the growing suite of services offered by Mitie Spain and will enhance the cross-sell opportunity to an enlarged blue-chip, customer base.
Visegurity employs over 600 colleagues who will join Mitie’s team of 8,400 colleagues in Spain.
Commenting on the acquisition, José Luis García Hurtado, Managing Director – Mitie Spain, said: “This acquisition significantly enhances our service offering in Spain, adding national security expertise and a broad customer base, to complement our existing relationships. 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.”
Mitie has acquired Grupo Visegurity for a maximum consideration of €11.0m (£9.2m), comprising an initial payment of €9.0m (£7.5m) and performance-linked deferred payments of up to €2.0m (£1.7m) over the next two years.
In the 12 months ended 31 December 2023, Visegurity delivered revenue of €18.0m (+13% yoy) and EBITDA of €1.5m (+4% yoy). The acquisition will be funded from Mitie’s existing facilities.
