This decision will combine G4S’s existing ATM secure engineering capability with expertise in areas such as engineering maintenance, analytics and provision of hardware and software solutions.

The alliance assumes the sale of 100% of G4S’s UK Engineering business and will see the transfer of 380 engineers and support staff to the company's new partner.

G4S’s Secure Engineering business maintains and services approximately 6,000 ATMs as well as cash and note re-cycling devices deployed at customer sites as part of its Cash360 product service range. Cash360 is an end to end cash management solution that is tailored to fit the diversity of many business requirements such as different store sizes and business objectives, providing cash recycling devices that secure, sort and store notes and coins, at either point of sale or back office retail locations.

Commenting on the alliance, Bill Hoyne, Managing Director, G4S Cash Solutions (UK) said: “The combined workforce and expertise of both businesses will provide a 24/7 nationwide network with the required density and efficiency to deliver true value to our customers as well as helping meet the strategic objectives of both G4S and our new partners.”

G4S Secure Engineering generated revenues of approximately £23 million, and employs 380 employees across 42 different sites in the UK.