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Pin to quick picksWestminster Group Share News (WSG)

Share Price Information for Westminster Group (WSG)

London Stock Exchange
Share Price: 14.25
Bid: 14.00
Ask: 14.50
Change: 0.00 (0.00%)
Spread: 0.50 (3.57%)
Open: 14.10
High: 14.60
Low: 13.50
Yest. Close: 14.25
WSG Live PriceLast checked at -

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Westminster Group gets into Francophone markets with Euro Ops acquisition

Wed, 1st May 2019 10:21

(Sharecast News) - Managed services and technology-based security solutions provider Westminster Group announced the acquisition of the entire issued share capital of French aviation security and support services company Euro Ops on Wednesday, along with the business and assets of Euro Ops International.

The AIM-traded firm said it provided it with a France-based subsidiary, with increased access to Francophone countries.

It described it as a "strategically structured" deal, explaining that it was acquiring a non-trading sister company which provided the benefits of the business activities of Euro Ops International without any past incumbrances.

Westminster Group said the fact Euro Ops operated in the aviation sector would expand its geographic coverage, and would also expand its business clients and contacts in the sector.

The acquisition would bring additional revenue streams to the group, with the company saying Euro Ops' owner and director was "highly qualified" and "well respected" in the sector.

Westminster's board said the expected maximum cost of the acquisition would be £30k, subject to the working capital requirements of the business.

"I am delighted to be able to announce the acquisition of Euro Ops," said Westminster Group chief executive officer Peter Fowler.

"We have been exploring ways to develop the Francophone market for some time and the acquisition of Euro Ops now provides us with an ideal opportunity to grow our business in such regions, both from Euro Ops existing business activities and also through the expansion of Westminster's airport and managed services business."

Fowler said he was "equally delighted" that Vincent Toscani was remaining with the business.

"Vincent is a knowledgeable and well-respected operator within the sector and is a valuable addition to our airport security management team and will help drive the business forward."

Commenting on joining Westminster Group, Euro Ops founder Vincent Toscani said that, having provided services to Westminster in the past, he had "always" been impressed by its professionalism, adding he was now "very happy" to be part of the group.

"My team and I are excited about growing our business and delivering new business opportunities given the reputation, experience and professional support of Westminster."

As at 1013 BST, shares in Westminster Group were up 1.15% at 7.94p.

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