Security & Facility Management Corporation, The Tenon Group has acquired 51% stake in Singapore based Frontline Security Pte Ltd, for a consideration of about R19 Cr (GBP 1.9 Mn) in an all equity deal. Tenon intends to acquire additional 25% in order to achieve 76% of total paid up capital of Frontline in the next three years. The acquisition enables Tenon in expanding its geographical footprint and growing the business through targeted acquisitions. Founded in 2006, Frontline Security provides security manpower services, close protection officers, security systems and technology solutions, providing services serving to customers across 73 sites in Singapore. It also provides security management, consultancy services and training, as well as supplying a wide range of security and surveillance products including CCTV systems, GPS tracking systems, metal detectors, biometric time and attendance systems, and under vehicle surveillance systems. Incorporated in 1995, The Tenon Group of Companies is a security and facilities management corporation, with over 45,000 employees in 71 branches, in India and overseas, providing range of services to more than 1500 clients. In 2013, Tenon expanded its global footprint and established its presence in Saudi Arabia and Sri Lanka through Saudi Tenon and Tenon Lanka, respectively. In 2015, in the line of its strategy of expanding, Tenon had acquired UK based facility management company – O&G Group.
Source: dealcurry.comThe Tenon Group Acquires Stake In Singapore Based Frontline Security
Industry: Other 2015-11-23
