Security services and facilities management firm Mortice Ltd on Monday said its Tenon Facility Management Singapore Pte Ltd business has acquired a majority stake in Singapore-based security company Frontline Security Pte Ltd for around GBP1.9 million. Tenon Singapore will also have the option to acquire another 25% of Frontline within the next three years, Mortice said. It expects the deal to be immediately earnings-accretive. Frontline provides security personnel, close protection officers, security and technology systems in Singapore.
“Whilst our business is registered in Singapore, our operations have been mainly focused in India, and also in Sri Lanka, Saudi Arabia, through our joint ventures there; and more recently in the UK following our acquisition of Office & General,” said Manjit Rajain, Mortice’s executive chairman. “I am delighted to now extend our footprint further and to establish our operational presence in Singapore, which we see as an exciting growth market for the provision of security manpower services and other security products and services,” Rajain added.