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A Crawley-based security specialist has added an insurance fraud mitigation and claims service to its portfolio with an acquisition in the US.

G4S, which is listed on stock exchanges in London and Copenhagen, has bought North Carolina-based MJM Investigations and some of its affiliated companies. The acquired company has assets valued at $16.2 million (£8.1 million).

The company was sold for an undisclosed sum by its founder and chief executive Michael Malone, who joins G4S post-completion.

G4S chief operating officer Grahame Gibson said the directors decided to add MJM to its portfolio to enhance the group’s global risk management services.

Malone said he founded MJM to become a global provider of investigative services. “That vision is a reality as a result of this acquisition. This partnership will enhance MJM’s global bandwidth and allow us to accomplish our long-term goals and strategies. We’ll now be able to deliver our comprehensive portfolio of services throughout the world.”

G4S provides risk management and protection services to governments and corporates around the world. The company has more than 530,000 employees across some 110 countries.

MJM provides surveillance and investigation services, which include background screening, due diligence and risk management consultancy to insurers, third party administrators, self-insured corporations and insurance defence law firms. It employs 374 people and generated sales of $45 million (£22.5 million) last year.

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