Mitie Regulatory News (MTO)

2 May 2023

Mitie Group plc

LEI number: 213800MTCLTKEHWZMJ03

Mitie expands security systems offering with the acquisition of R H Irving Industrials Ltd

Mitie Group plc ('Mitie' or 'the Group') announces today that it has acquired R H Irving Industrials Ltd, a specialist in security services, for a total consideration of £19.1m[1], building on our position as the UK's leading intelligence and technology-led security provider.

R H Irving Industrials has approximately 25 years of experience delivering a broad range of complex and sophisticated security services, including the design, installation, and maintenance of electronic security systems, perimeter security fencing, gate automation, hostile vehicle mitigation, cyber protection, civil engineering, and earthing services.

The company has a strong reputation in highly regulated sectors, such as critical national infrastructure and utilities, and it has also been expanding its earthing capabilities into high growth areas where Mitie has also been expanding, such as 5G and electrical vehicle charging infrastructure.

The acquisition will strengthen our existing fire and security systems capabilities in Business Services, whilst the company's earthing services complement our Projects and Technical Services businesses.

The acquisition will be funded from Mitie's existing facilities. For the year ended 28 February 2023, R H Irving Industrials reported revenue of £17.4m and EBITDA of £2.4m.

Jason Towse, Managing Director, Mitie Business Services, said:

"R H Irving Industrials is our second security-related acquisition in recent months, reflecting the Group's strategy to invest in high growth, high margin companies in the key sectors of security technology, decarbonisation, and telecoms. The business both complements and enhances Mitie's existing capabilities and customer base. We are delighted to welcome the R H Irving Industrials team to Mitie."

-ENDS-

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About Mitie

Founded in 1987, Mitie's job is to look after places where Britain works and is the leading facilities management company in the UK. We offer a range of services to the Public Sectors in Central Government and Defence and Communities (Healthcare, Education and Campus & Critical). Our Technical Services (Engineering Services, Energy, Water and Real Estate Services) and Business Services (Security, Cleaning and Office Services) divisions serve private sector customers in Telecoms, Financial & Professional Services, Transport and Industrials and increasingly to the public sector. Finally, our Specialist Services (Care & Custody, Landscapes, Waste Management and Spain) division serves both the public and private sectors.

Mitie employs 68,000 people. We are the champion of the 'Frontline Heroes' who have kept Britain working during the COVID pandemic. We take care of our customers' people and buildings, through the 'Science of Service', and we are transforming facilities to be more flexible, safe, sustainable, and attractive to all. The business continues to execute its technology-led strategy and in the past twelve months has received multiple awards. Find out more at www.mitie.com.