Securitas acquires leading electronic security company in Australia
Wednesday, December 11, 2019
Securitas is strengthening its client value proposition in the Australian security market through the acquisition of Fredon Security, a leading electronic security company in Australia. The purchase price is estimated to MAUD 32 (MSEK 210).
Securitas has entered into an agreement to acquire Fredon Security, founded in 2012 as a division within Fredon Group, an Australian engineering and building services company. Fredon Security is specialized in high-end electronic security solutions including system design, engineering, installation, commissioning and maintenance. The company has approximately 110 employees with a strong footprint across Australia’s key geographical markets; Melbourne, Canberra, Brisbane, Perth and Sydney, where it is headquartered. Through strong organic growth the company has established a robust market position in the technology, commercial and government client segments. Fredon Security’s annual sales was MAUD 37 (MSEK 240) in the financial year ending June 2019. The purchase price is estimated to MAUD 32 (MSEK 210).
“We are pleased to welcome the Fredon Security team onboard for an exciting journey together with Securitas. Our ambition is to be the leading protective service provider in Australia. The acquisition of Fredon Security puts us in a position of strength in delivering quality electronic security services to our clients and we will continue growing the business together with the team. In combination with our recent investments and growth into our guarding, alarm monitoring and remote video solutions services we are in a strong position to build long-term client partnerships and offer our clients integrated security solutions based on their individual needs and risks”, says Andreas Lindback, Divisional President, Securitas AMEA.
Securitas is the world leading protective services company with the ambition to lead the industry into the next generation of intelligent security solutions. Since entering the Australian market in 2017 Securitas has built long-term client partnerships, experienced strong growth and expanded its geographical footprint and protective services capabilities across the country.
The acquisition is expected to close and is targeted to be consolidated into Securitas in January 2020.
This press release is available at www.securitas.com.
Information: Micaela Sjökvist, Head of IR, Securitas AB, mobile +46 76 116 7443 or email email@example.com