Securitas set to acquire STANLEY Security’s electronic security businesses in five countries
SECURITAS HAS moved to acquire STANLEY Security’s electronic security businesses in Germany, Portugal, Switzerland, Singapore and India. The acquisition is aligned with Securitas’ ambition to double the size of its security solutions and electronic security business and expands the company’s electronic security footprint and capabilities.
The purchase price for the deal is estimated to be US$64 million. The entities to be acquired provide an integrated electronic security for Securitas’ clients – from design through to installation and from maintenance to alarm monitoring – based on a complete portfolio of advanced security solutions such as access control, intrusion detection, video, fire and integrated systems.
STANLEY Security has approximately 580 highly-skilled employees operating in five countries through 20 branch offices, out of which 11 are located in Germany.
The business also has two Monitoring Centres for alarms: one in Germany and one in Portugal. Total sales of the in-scope business amounted to US$85 million, mainly driven by installation sales, recurring monthly revenue and maintenance services.
“We’re very excited to welcome the electronic security specialists from STANLEY Security to Securitas,” explained Magnus Ahlqvist, Securitas’ president and CEO. “Through this acquisition, we add significant electronic security expertise and deepen our capabilities in Germany, Switzerland and Portugal, while also establishing our first electronic security presence in Singapore and India. This is an important step forward on delivering high-quality electronic security services for our clients in key markets.”
The acquisition-related costs are expected to be MSEK 60, some to be recognized in 2020, but mostly in 2021. The acquisition is expected to be EPS accretive as of 2022. It will require customary regulatory approvals and is expected to close during the fourth quarter of 2020.
