Member Article

G4S make South African acquisition

Security group G4S have acquired South African cash solutions firm Deposita Systems (Pty) Ltd.

The move will be undertaken by G4S Cash Solutions (SA) Proprietary Limited, from AFGRI Operations (Pty) Ltd and Fox Business Trust.

It will mean G4S will own 87% shares in Deposita and pay a total consideration of £8.2m post debt restructuring.

G4S will now be in a position to exploit Deposita’s cash technology and export it to other African countries such as Botswana, Malawai, Kenya and Namibia. Deposita is headquartered in Midrand, Gauteng, and employs 165 staff across the country.

Andy Baker, Regional President, G4S Africa, commented: “We are very pleased to welcome Wessel and his team to G4S and believe they will make a significant difference to our business. We believe their market leadership in cash device technology, extensive client base and unmatched track record of delivery in this highly specialist area will underpin our service offering here in South Africa and elsewhere in Africa.”

Albert Erasmus, Managing Director, G4S Cash Solutions South Africa, added: “This will accelerate our growth via the addition of exciting new capability that will assist the development of the cash business via the provision of more complete end-to-end solutions for our customers.”

This was posted in Bdaily's Members' News section by Tom Keighley .