Securitas acquires security services company in Peru
Following the strategy to further expand its presence in Latin America, Securitas has entered into an agreement to acquire 90 percent of the shares in the security services company Forza S.A. with subsidiaries Forza Alarmas and Forza Amazonica in Peru. Estimated enterprise value of the acquisition is approximately MSEK 94 (MPEN 44). The agreement includes the option of acquiring the remaining 10 percent at a price based on financial performance at December 31, 2010.
Forza has annual sales of approximately MSEK 160 (MPEN 75) and is one of the four largest security services providers in Peru. Forza has its base in Lima but with a strong presence in the mining sector in the interior part of the country. The company has approximately 3,200 employees.
The Peruvian security services market is estimated to be worth around MSEK 2,400 (MPEN 1,140) and is expected to grow by 8 percent annually in the short term.
The acquisition will be consolidated in Securitas AB as of December 1, 2007.
This press release is also available at: www.securitas.com
Gisela Lindstrand, Senior Vice President Corporate Communications and Public Affairs, phone +46 8 657 7332 or +46 70 287 8662