Securitas to acquire G4S’ operations in Germany
Thursday, May 15, 2008
Securitas has agreed to acquire G4S’ guarding and monitoring operations in Germany with total external sales of MSEK 975 (MEUR 105) in 2007. The enterprise value is estimated to MSEK 317 (MEUR 34).
With 4.100 employees, G4S Germany, based in Hamburg, has a good presence in guarding mainly in northern Germany. The company has a well diversified contract portfolio with a stable customer portfolio. Sales in alarm monitoring amounts to MSEK 56 (MEUR 6).
- The acquisition is in line with Securitas’ strategy for the security services operations in Europe. The acquisition will complement our existing German operation both in terms of customers and geography. It will also give us a solid platform from which to continue our strategy of refinement and specialization of our services for the benefit of our customers, says Alf Göransson, Securitas’ President and CEO.
The acquisition will contribute positively to the earnings of Securitas as from 2009. Restructuring costs of MSEK 30-50 (MEUR 3-5) are expected in 2008.
The acquisition is subject to approval from the German competition authorities.
With this acquisition, Securitas in Germany will have total sales of MSEK 5,000 (MEUR 537) with about 19.000 employees and a market share of approximately 14 percent in guarding.
Further to the announcement on March 11, Securitas also undertook a study of G4S’s guarding operations in France. However, Securitas has decided not to pursue this opportunity given anticipated competition considerations.
This press release is also available at: www.securitas.com
Gisela Lindstrand, Senior Vice President Corporate Communications and Public Affairs, phone +46 10 470 3011 or mobile +46 70 287 8662
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 09.00 on May 15, 2008.