G4S sells US youth detention centres
Unlock the Editor’s Digest for free
Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.
G4S, the outsourcing company, has sold its US juvenile detention centres business for $57m.
It said it had sold the business to BHSB, a US “behavioural health care services company” that provides services to troubled young people
As part of the deal, senior management will stay with the business, which operates in Florida, Texas and Tennessee. In 2016 it recorded pre-tax profits of $5m, down 9 per cent on a year earlier.
G4S chief executive Ashley Almanza said:
The sale of our US Youth Services business is part of our portfolio management programme initiated in 2013 to improve our strategic, commercial and operational focus.
Comments