LONDON, UNITED KINGDOM — Mitie Group plc has announced the acquisition of Argus Fire, a UK-based fire systems engineering firm, for £38 million ($49.3 million). This acquisition strengthens Mitie’s position in the UK’s growing fire and security market, driven by rising demand for advanced building safety systems and compliance with evolving regulations.
Established in 1982 and headquartered in Stourbridge, Argus Fire specializes in designing, installing, servicing, and maintaining active fire protection systems. The company’s expertise includes sprinkler systems, inert gas fire control, and electronic fire detection and alarm systems.
Argus Fire serves a diverse client base across education, healthcare, logistics, industrial warehousing, retail, construction, and transportation sectors. Recent projects include fire suppression systems for the redevelopment of Battersea Power Station and installations at new logistics and data storage facilities.
Strategic synergies with Mitie’s ire and security services
Jason Towse, Mitie’s managing director of business services, highlighted that Argus Fire’s technical capabilities strengthen Mitie’s leadership in project delivery, inspection, and maintenance across the UK’s £3 billion fire and security market. “We look forward to welcoming Argus Fire’s 200 colleagues to Mitie,” Towse stated.
Argus Fire’s managing director, Matt Lincoln, expressed enthusiasm about joining Mitie, noting that the partnership would provide access to a blue-chip customer base and greater growth opportunities. “I’m very proud of our team and look forward to joining forces with Mitie’s complementary skills in the fire and security realms,” Lincoln said.
Market growth driven by technology and compliance
The acquisition of Argus Fire aligns with Mitie’s recent additions of GBE Converge and RHI Industrials, expanding its fire and security capabilities and offering cross-selling opportunities with existing customers. Growth in the UK fire and security market is fueled by technological innovations for intelligent buildings and stringent regulations that mandate robust fire safety for building occupants.
For the year ending March 31, 2024, Argus Fire reported revenues of £44.3 million (up 2% year-on-year) and EBITDA of £3.8 million (up 25% year-on-year). Mitie funded the acquisition from its existing financial resources, further solidifying its position in the fire safety sector.
