Securitas on Monday announced that it is acquiring STANLEY Security’s electronic security businesses in Germany, Portugal, Switzerland, Singapore, and India for an estimated $64 million.
In a statement, Securitas said the acquisition aligns with its internal ambition to double the size of its security solutions and electronic security business while also expanding the footprint and capabilities of its systems integration arm.
STANLEY’s electronic security business in the aforementioned countries employs approximately 580 workers that operate out of 20 branch offices, 11 of which are located in Germany. The business also has two alarm monitoring centers, one in Germany and one in Portugal. Total sales of the in-scope business totaled $85 million in 2019, mainly driven from installation sales, recurring monthly revenue and maintenance services.
"We are very excited to welcome the electronic security specialists from STANLEY Security to Securitas. Through this acquisition, we add significant electronic security expertise and deepen our capabilities in Germany, Switzerland and Portugal, while also establishing our first electronic security presence in Singapore and India. This is an important step forward to deliver high-quality electronic security services to our clients in key markets," said Magnus Ahlqvist, Securitas President and CEO.
The deal is expected to close during the fourth quarter of 2020 pending customary regulatory approvals.
