PALM BEACH GARDENS, Fla., Nov. 25, 2014 /PRNewswire/ -- G4S Government Solutions, Inc. (G4S GS), the world's leading U.S. government solutions group, today announced that it has entered into a definitive agreement to sell G4S GS and other related assets and assumed liabilities to a U.S. private equity firm and has launched Centerra Group, LLC, a global government & critical infrastructure services company.
Once consummated, Centerra will become the largest American-owned provider of protective services to the Federal Government. Further, the sale immediately puts the 54-year-old company in position to broaden its service offerings and expand its customer base worldwide.
"The private equity firm plans on developing Centerra Group, LLC as the centerpiece for further federal and critical support investments," said Paul Donahue, President and CEO of Centerra. "This transaction opens an exciting new chapter for us as a corporation and gives the company significant financial and operational flexibility to enter several new markets and invest deeper in existent ones."
Centerra's core competencies will evolve beyond security and fire support services as they continue to diversify and expand capabilities primarily through organic growth. However, the company plans to launch multiple strategic divisions in the next quarter to better align with its projected portfolio of business. Specific Centerra divisions will include the following: National Security Protection, Federal and Commercial Security, Fire and Emergency Services, Base Operations Support and Training, Facilities Maintenance, and Fleet Maintenance and Construction Services.
G4S GS currently supports more than 60 prominent customers to include the Department of Energy, Department of Defense, Department of Homeland Security, Department of Justice, Department of State and more than a dozen additional Federal, State and Local agencies and commercial clients worldwide. Donahue says, "Centerra will continue to offer its customers the same level of superior service that G4S GS did with no disruption in service."
"While we will have a new parent, the changes will be minimal. Our entire management team has been asked to stay on board. Our corporate culture remains intact. We want our customers to expect the same high level of service and understand that we will continue to perform with professionalism and integrity," continues Donahue.
About Centerra Group, LLC
Centerra Group, LLC, formally G4S Government Solutions, Inc. (G4S GS), the world's leading international government solutions group, specializes in business processes in sectors where security and safety risks are considered a strategic threat. The company, formally Wackenhut and WSI, Inc. founded in 1960, merged with G4S in 2005 and formed G4S Government Solutions, Inc. in 2011. Centerra, headquartered in Palm Beach Gardens with regional and subsidiary offices in Louisiana, Maryland, Texas and Virginia, is a multidisciplinary service provider with more than 8,800 employees worldwide. For further information, please call 800.325.5432 or visit www.centerragroup.com.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/g4s-government-solutions-inc--announces-sale-to-private-equity-firm-for-135-million-and-launches-centerra-group-llc-300001025.html
SOURCE Centerra Group, LLC