Acquisition in the Netherlands
B&M was founded in 1978 by its present owners, Hans Mulder and George Van Den Berg, and is active in guarding and alarm monitoring. Hans Mulder will remain as Managing Director.
The total Dutch security market is estimated to be worth MNLG 2,400 (MSEK 9,200), of which guarding accounts for approximately MNLG 1,200 (MSEK 4,600). B&M is the fifth largest company in the market, with a market share of 3% in guarding. By acquiring B&M, Securitas will enter the Dutch market and obtain access to a high quality contract portfolio. About 25 percent of sales are airport related. The company has 430 employees.
The acquisition price is MNLG 17 (MSEK 66) payable in cash. The acquisition gives rise to goodwill of about MSEK 59, which will be amortized over 20 years.
The acquisition will be included in the Securitas Group from July 2000 and will make a positive contribution to the Group's income in 2000.