Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Evergreen, new Armourguard owner, wins $80M MSD contract

Evergreen, new Armourguard owner, wins $80M government security contract

By Jonathan Underhill

May 20 (BusinessDesk) - Evergreen International NZ has won an $80 million contract to supply security services to the Ministry of Social Development, just six months after the private equity-owned firm acquired the Armourguard Security business in New Zealand for $1.

The national two year plus two year contract includes provision of security guards, monitoring of security and fire alarms in ministry offices and Child Youth and Family homes, and support for monitoring systems.

Evergreen, which is owned by New York-based Evergreen Capital, acquired the Armourguard business from NYSE-listed Tyco last year. The value of the transaction was given as $1 according to a note in the accounts of Sensormatic New Zealand, the immediate owner of Tyco New Zealand. The note didn’t say whether there was a debt component to the transaction.

The firm, which had 1,500 employees, takes over as national provider for services that were previously supplied by a number of companies, a spokeswoman for the ministry said. She declined to give details of the contract, including whether any cost savings were achieved.

According to the request for proposal documents released via the government’s GETS tender website, the ministry currently employs about 162 guards at 144 Work & Income sites. The RFP was originally put out in early 2013 with a view to starting in July of that year.

The contract also requires security guards to be dispatched with CYF employees in family homes, transition sites and in transit and to help in delivering “trespass notices and warning letters to clients”. They also sit in on some family group conferences. Monitoring services include bedroom, intruder detection and fire alarm systems in about 80 CYF family and supervised group homes.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Maritime: Navigation Safety Review Raises Big Issues For The Govt

Shipping Federation: "The reports makes it clear that the ratification of the Maritime Labour convention (MLC) is long overdue. Only when the MLC is ratified will Maritime NZ be able to inspect and enforce the labour conditions on international ships visiting our ports." More>>

ALSO:

100 Years After Einstein Prediction: Gravitational Waves Found

For the first time, scientists have observed ripples in the fabric of spacetime called gravitational waves, arriving at the earth from a cataclysmic event in the distant universe. This confirms a major prediction of Albert Einstein’s 1915 general theory of relativity and opens an unprecedented new window onto the cosmos. More>>

ALSO:

Farming: Alliance Plans To Start Docking Farmer Payments

Alliance Group, New Zealand's second-largest meat cooperative, plans to start withholding some stock payments to its farmers from next week to bolster its balance sheet and force suppliers to meet their share requirements. More>>

ALSO:

Gambling: SkyCity First Half Profit Rises 30%, Helped By High Rollers

SkyCity anticipates the Auckland business will benefit from government gaming concessions which were triggered on Nov. 11 in recognition of SkyCity’s $470 million Convention Centre development. Morrison said the concessions would allow the Auckland business to lift its activity during peak period, noting it had a record revenue week over the Christmas and New Year period. More>>

ALSO:

Money For Light: Kiwi Scientists Secure Preferential Access To Synchrotron

Science and Innovation Minister Steven Joyce today announced a three-year investment of $2.8 million in the Australian Synchrotron, the largest piece of scientific infrastructure in the Southern Hemisphere, to secure preferential access for Kiwi scientists. More>>

Telco Industry Report: Investment Hits $1.7 Bln A Year

Investment in the telecommunications sector is $1.7 billion a year, proportionately one of the highest levels in the OECD, according to a report released today on the status of the New Zealand sector. More>>

ALSO:

PGPs: New Programme Sets Sights On Strong Wool

A new collaboration between The New Zealand Merino Company (NZM) and the Ministry for Primary Industries (MPI), announced today, aims to deliver premiums for New Zealand's strong wool sector... More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news