Securitas acquires security services company in Singapore
Wednesday, September 28, 2011
Securitas has acquired the security services company Chubb Guarding Services Singapore. Enterprise value is estimated to MSEK 37 (MSGD 7).
Chubb Guarding Services Singapore has annual sales of approximately MSEK 94 (MSGD 18) and approximately 600 employees. The company has a quality customer base, and its customer portfolio is well diversified across customer segments and between the public and private sectors.
Chubb Guarding Services Singapore is among the top 5 leading guarding companies in Singapore. By acquiring Chubb Guarding Services Singapore, which is also an “A” Grade Singapore Guard Company like Securitas in Singapore, Securitas can expand its market share and business scale in Singapore.
The security services market in Singapore is regulated by the authorities. In total, there are approximately 35,000 registered manned guards in Singapore in about 300 registered guarding companies. Securitas is present in Singapore since 2010, with approximately 600 employees.
The acquisition is consolidated in Securitas AB as of September 28, 2011.
This press release is also available at: www.securitas.com (http://www.securitas.com/)
Gisela Lindstrand, Senior Vice President Corporate Communications and Public Affairs, Securitas AB, phone +46 10 470 3011, mobile +46 70 287 8662, or email email@example.com
Securitas is a knowledge leader in security, focusing on providing security solutions to fit each customer's needs in 49 countries in North America, Europe, Latin America, Middle East, Asia and Africa. Everywhere from small stores to airports, our 295,000 employees are making a difference.
Securitas AB discloses the information provided herein pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act. The information was submitted for publication at 13.00 (CET) on September 28, 2011.