During a time where the business world has been undergoing several mergers and acquisitions, Transguard took big strides towards strengthening its hold over the cash management business when it acquired G4S Cash.
“G4S (Cash) was a pinnacle acquisition. The deal took a year from the point of being told that it would never be sold to us. We took a lot of satisfaction (once it got done) it was a massive team effort. It›s special because G4S are a large international company and Transguard is a UAE company. So for us to knock out an international business unit / company is great,” Transgaurd Group, MD, Greg Ward told fmME.
The acquisition meant an addition of 540 employees, 74 cash vans, G4S’ Abu Dhabi Cash Centre and all other assets of G4S Cash, increasing the market share of Transguard Cash to 95%.
Ward says having a larger control of a particular sub-sector will enable Transguard to be more competitive in a price sensitive market. He says: “Taking out one of our competitors just gives us another option so that we don›t get into price wars and we can focus on the service we are giving our customers.”