The Cotswold Group Limited, the Gloucester based fraud investigation and surveillance company, has been taken over by security group, G4S.
The Cotswold Group was founded in 1990 by former police officer Tom Scott, its current chief executive officer who specialized in covert surveillance, combating serious and organised crime.
He will continue to manage the business following the acquisition. The Cotswold Group is headquartered in Gloucester Business Park where it employs 80 staff with a total of 260 staff nationwide including offices in Watford and Manchester.
G4S has acquired The Cotswold Group from Tom Scott and other members of its management team.
A G4S spokesman said it would significantly strengthen the strategic development of its covert surveillance and investigations capability.
It will also add to similar services it already has in the US, Middle East and Asia Pacific.
"With this acquisition G4S will become the global leader in the investigation of insurance fraud which is estimated to cost in excess of £122bn each year," said the spokesman.
"The Cotswold Group will provide an intelligence-based fraud investigation services platform and give G4S the capability to pursue major opportunities within UK central and local government in areas such as benefit fraud investigation.
"The Cotswold Group is the largest provider of surveillance and investigative services to insurance clients within the UK, with a strong emphasis on personal injury fraud.
"It provides a range of surveillance and investigation services in property, motor and personal injury insurance claims, employers and public liability, employee screening, housing benefit fraud and corporate investigations."
David Taylor-Smith, regional CEO, G4S UK & Africa, commented: "We are very pleased to welcome Tom and his team to G4S and expect them to make a real difference to our business.
"We believe their market leadership, extensive client base and unmatched track record of delivery in this highly specialist area will underpin our consultancy offering here in the UK and overseas."
Tom Scott said: "We are very excited about the opportunities for our company through becoming part of the G4S family. We believe the Cotswold Group is highly complementary to G4S's existing operations and will bring many new capabilities to G4S and its customers.
"The opportunity to create a major force in investigation services for the insurance market place and to work with G4S teams in the UK and globally is an extremely exciting prospect."