PRESS RELEASE
4 December 2007
For immediate release
ASSETCO INVESTMENTS EXPAND SPECIALIST ITC PORTFOLIO FOR EMERGENCY SERVICES
AssetCo plc (“AssetCo”) is pleased to announce the acquisition of the AES Group for £4 million and a 25% strategic investment in Miquest Limited.
With revenues of £4 million per annum, AES (Auto Electrical Services) designs, builds and installs integrated electrical and communication systems for specialist emergency services vehicles and for national communications projects such as Firelink. The company is a provider to the Fire and Rescue Services’ New Dimensions civil contingency project, contracted and operated by Communities and Local Government (CLG).
The Miquest developed range of software products for integrated Asset Management Solutions is an established brand used across most industrial sectors and the emergency services. These systems have been currently supplied to 20 Fire and Rescue Services including AssetCo client, London Fire and Emergency Planning Authority (“LFEPA”). It is also an integral component used within the New Dimensions civil contingency project.
Miquest Asset Management software provides for managing any category of asset from purchase through life to safe disposal. For the emergency services these include; operational equipment, fleet (vehicles), facilities (property and buildings), ICT equipment, PPE (Personal Protective Equipment) and Hydrants. The system manages all forms of maintenance and testing regimes as well as options for service management. Miquest Mobile provides mobile working and comprehensive tracking of assets (ops equipment etc) and personnel between operational locations.
Miquest also provides related optional modules for “Fire Investigation”, “IPDS” and a new module for “Fire Audit” is under development. A full range of support and maintenance services options are available and complete the company’s role as total solutions provider.
“We continue to identify and integrate businesses which provide specialist skills and services which will enhance our overall offering to the emergency services and we are pleased to have recently completed these synergistic investments.” John Shannon, AssetCo Chief Executive Officer said.
“AES bring a complementary set of technology and communication skills to enhance the design, engineering and build capability offered by Papworth Specialist Vehicles to the wider emergency services.”
AES has developed and recently launched a telemetry product called M-Flow, specifically for the emergency services market, which enables the capture of real time data from vehicles and the transmission of that information via GPRS or Wi-Fi to fleet managers.
M-Flow is already adopted by a number of police forces in the UK, including for use in helicopters, and is an integral support product used within the New Dimensions project. M-Flow technology will greatly enhance the nature and efficiency of support and maintenance operations for all types of emergency services fleets and make significant breakthroughs in their ability to reduce carbon emissions and achieve searching environmental targets set by Government.
“The combination of Miquest technology with the M-Flow product from Auto Electrical Services (AES) will enhance our ability to deliver a market leading, integrated asset management solution and, through this investment, AssetCo plc continues to strengthen its position as an innovator in the Fire and Rescue Services supply chain.” Mr Shannon added.
For further information please contact:
Sue Alsop
M: 07870 270840
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Notes to editors:
AssetCo plc, (AIM : ASTO) AssetCo plc is a leading provider of outsourced and managed support services to the emergency and homeland securities markets in Great Britain and Northern Ireland and emerging markets overseas.
The company employs some 530 people in ten locations.
Subsidiaries of AssetCo plc include:
AssetCo Emergency Limited
Papworth Specialist Vehicles Limited
AS Fire and Rescue Limited
Collins Youldon
FSE Limited
Todd Research Limited
BlueAmberRed Limited
Simentra Limited
AES Group