G4S plc UK DK : Disposal 3 April 2017
Post# of 301275
3 April 2017
G4S PLC
G4S sells G4S Youth Services LLC ("G4S Youth Services") for US$56.5 million
G4S, the leading global integrated security company, announces that it has completed the sale of G4S Youth Services in the USA to BHSB Holdings, Inc. ("BHSB") for US$56.5 million paid in cash. Proceeds from the sale will be used for corporate purposes.
G4S Youth Services is a leading provider of residential-based juvenile services throughout Florida and in the states of Texas and Tennessee. In the year to 31 December 2016, G4S Youth Services posted profit before taxation of US$5.1 million (2015 US$5.6 million) and, as at 31 December 2016, it had gross assets of US$21.5 million (2015 US$21.4 million).
As part of the transaction, senior management in G4S Youth Services will remain with the business at completion.
Commenting on the transaction, Ashley Almanza, G4S Group Chief Executive Officer said:
"As previously announced, the sale of our US Youth Services business is part of our portfolio management programme initiated in 2013 to improve our strategic, commercial and operational focus."
For further enquiries, please contact: Helen Parris, Director of Investor Relations +44 (0) 20 8722 2125
For media enquiries: Nigel Fairbrass, Director of Media +44 (0) 7799 894265
Notes to Editors:
About G4S plc
G4S is the leading global, integrated security company, specialising in the provision of security services and solutions to customers. Our mission is to create material, sustainable value for our customers and shareholders by being the supply partner of choice in all of our markets.
G4S is quoted on the London Stock Exchange and has a secondary stock exchange listing in Copenhagen. G4S is active in around 95 countries and has over 585,000 employees. For more information on G4S, visit www.g4s.com .
About BHSB:
BHSB is a Florida-based behavioural health care services company providing counselling and care to young adults throughout the US. BHSB provides evidenced based programming designed to address the specific needs of youth, including trauma, substance abuse, education and vocational development.
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