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G4S sells G4S Youth Services for $56.5m

03 April 2017 07:37

G4S has completed the sale of G4S Youth Services in the US to BHSB Holdings, Inc for US$56.5m in cash.

G4S said proceeds from the sale would 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).

G4S said that as part of the transaction, senior management in G4S Youth Services would remain with the business.

Story provided by StockMarketWire.com

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