Securitas expands its operations in Turkey
Securitas has signed an agreement to acquire the security company Pronet Security (Pronet Güvenlik ve Dan.Hiz. A.Ş) and Sernet Services in Turkey, to expand its operations in the country. Enterprise value is estimated to MSEK 340 (MTRY 175).
Pronet Security is a top 5 security company in Turkey with annual sales of approximately MSEK 480 (MTRY 246) and more than 5 000 employees. The company is specialized in guarding services mainly in the Istanbul area. Pronet has a strong focus in the retail, high-rise and office customer segments, with many multinational companies in the customer portfolio.
The company Pronet Alarm (Pronet Güvenlik Hizmetleri A.Ş.), which operates mainly in the field of residential alarm security, is not a part of this transaction. This company continues to operate under its existing partnership structure.
Securitas is the market leader in Turkey with more than 13 000 employees and is also the leading systems integrator. Securitas entered the Turkish security market in 2006 by acquiring two guarding companies. A consulting company was acquired in 2010 followed by the systems integrator Sensormatic in 2011. The Turkish security services market is estimated to be worth close to BSEK 24 (BTRY 11) and the demand for protective services is growing.
The acquisition is subject to regulatory approval. Closing of the acquisition is expected during the third quarter of 2018, from which point it will be consolidated in Securitas.
This press release is also available at: www.securitas.com
Micaela Sjökvist, Head of IR and Acting SVP Corporate Communications and Public Affairs, Securitas AB, mobile +46 76 116 7443, or email email@example.com