Mergers and Acquistions News
Categories: IT Services & Consulting
February 27th 2009, 14:29PM
Westminster Group has sealed the acquisition of the risk management firm Longmoor Services by snapping up the entire issued share capital of the firm.
An initial consideration of £389,210 is to be satisfied by the issue of 894,735 ordinary Westminster shares worth 43.5p each on the date of completion - the total deal is worth £2.4 million.
Established in 2005, Longmoor has headquarters in London and has offices in the Netherlands, South Africa, Brazil and Malaysia.
Longmoor is a homeland security and training organisation, proving security personnel and expertise to a high-profile customer base including the BBC and former UN secretary general Kofi Annan.
Chief executive of Westminster Peter Fowler comments: "I am delighted to welcome Longmoor into the Westminster Group.
"I believe the company is at an exciting stage with tremendous growth prospects and that its specialist skills and international outlook are an excellent fit for our international business."
Westminster Group supplies governments and government agencies with fire, safety, security and defence services.
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