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GEO Group JV signs prisoner services contract in Scotland

Prison-focused real estate investment trust GEO Group Inc.'s transportation joint venture in the U.K. signed a deal with the Scottish Prison Service for the provision of court custody and prisoner escort services in Scotland.

GEO Amey PECS Ltd.'s contract will have an eight-year base term, to take effect Jan. 26, 2019, with a four-year renewal option period.

Under the contract, which is slated to have an annual revenue of roughly $39 million, the venture is expected to manage roughly 170,000 prisoner moves annually.