Securitas Systems, an international provider of security and systems integration services, will be doing a bit of business integration itself. The company announced today that it has acquired PEI Systems, one of the largest security systems integrators operating in the New York metro area, and quoted a purchase price of between 6 and 9 times EBITDA.
PEI Systems brings over 30 years experience providing security, surveillance and integrated solutions to businesses and organizations in the New York metro region, and closed $11.4 million in sales last year, with 20 percent of those sales being part of service contracts. Most of PEI's clients would be classified as blue chip companies, an area that Securitas Systems has intentionally targeted.
Securitas Systems President and CEO Juan Vallejo said the purchase was "in line with our strategy to increase the service element in our U.S. operations."
â€œThe acquisition of PEI Systems is a good example of how we will increase our ability to supply security systems to the important blue chip sector," added Vallejo, who stressed that the company's "good reputation" was part of the overall draw.