Newcourt buys STI for €1.5m

Outsourced services group Newcourt has bought Security Technology Ireland (STI) for a total consideration of €2 million.

22nd April, 2006

Outsourced services group Newcourt has bought Security Technology Ireland (STI) for a total consideration of €2 million.

Under the terms of the deal, €500,000 of which is deferred, STI will become part of Newcourt’s security and outsourcing division Federal Security.

Based in Dublin, STI installs and maintains electronic security systems. Last year, it had a turnover of over €1 million and profit before tax of about €250,000. Net assets acquired are over €1.3...

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