Securitas last week announced that is has acquired two systems integration firms – Turkish-based Tepe Güvenlik A.S. and German-based Protection One.
In a statement, Securitas said the acquisitions align with the company’s strategy of doubling its security solutions and electronic security sales by 2023. Tepe Güvenlik A.S. was purchased for approximately €10 million ($11.8 million) while Protection One was acquired for approximately €72 million ($85.4 million).
In 2020, Tepe Güvenlik’s annual sales were approximately €8.5 million ($10 million), of which more than 70 percent were on a recurring monthly revenue basis. The company has 250 employees and operations mainly in Ankara and Istanbul, including an operation center and a nationwide technical service network.
“This is a unique acquisition opportunity in the Turkish alarm monitoring market and will consolidate Securitas position in this space. We are pleased to welcome Tepe’s experienced team to Securitas and look forward to further developing our presence in and bringing innovations and solutions to our clients,” said Peter Karlströmer, Divisional President Security Services Europe at Securitas. “This is a strategic milestone for our business in Turkey, significantly strengthening our security solutions and electronic security footprint in the country.”
Protection One’s annual sales were more than €33 ($39.1) million in 2020, of which over 90 percent were on a recurring monthly revenue basis. The company has 230 employees in Germany and is present at 12 locations with the operation center based in Meerbusch, offering remote monitoring services with 24/7 real-time intervention.
“As the leading German player selling remote monitoring services and installations, Protection One fits perfectly with Securitas’ security solutions and electronic security strategy,” Karlströmer said. “We are excited about the new opportunities that Protection One’s strong experience in customized client solutions will enable, given their high client satisfaction and Securitas’ increased focus on the SME segment. With this acquisition, we will further strengthen our leading offerings in the growing German security market. We believe this acquisition will help us serve our clients in an even better way today and in the future.”
Both acquisitions are subject to approval from competition authorities and are expected to be finalized during the third quarter of 2021.
