Wednesday, May 16, 2012
GEO Group Makes Another Bold Move
The GEO Group just purchased another smaller private prison company, Municipal Corrections Finance L.P. This comes a little more than two years after they announced the purchase of the third-largest company, Cornell Corrections, to try to increase their market share and bed capacity. The new deal gives the company ownership of 11 additional facilities with10,000 beds, and further solidifies the company's position as the number 2 private incarcerator in the country.