Securitas Systems Makes Banking Security Acquisition in U.S.

Securitas expected to pay close to $47 million for bank security company Hamilton Pacific


In October, Securitas Security Systems' U.S. division acquired Hamilton Pacific L.P. The acquired company, based out of Pasadena, Calif., was specialized in security for banks and financial institutions, including electronic security systems, bank security equipment, vaults and ATMs.

The company, which was profitable and expected to see sales of $47 million this year, has approximately 225 employees. Its acquisition by the international security conglomerate gives Securitas an even larger bite into the world financial institution security market; Securitas previously had a strong percentage of the European market and this recent acquisition helps them bridge that market share to the U.S.

Securitas is online at www.securitasgroup.com.