AlliedBarton To Acquire U.S. Business of Initial Security
KING OF PRUSSIA, Pa. – AlliedBarton Security Services, an American owned and managed security services firm, announced it has signed an agreement with Rentokil Initial plc to acquire the security services business of Initial Security in the United States for approximately £40 million.
Subject to the receipt of antitrust approval, the transaction is expected to close by August 8, 2006.
“We are very pleased to add Initial Security to the AlliedBarton Security Services portfolio,” said Bill Whitmore, president and CEO of AlliedBarton. “Initial’s exceptional management team, together with its reputation for quality service and operational excellence will enable us to enhance the quality of our security service offerings to clients of both AlliedBarton and Initial.”
For additional information, go to www.AlliedBarton.com.
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