Securitas acquires Stanley Security’s electronic security businesses in five countries
Securitas announced Monday it is acquiring Stanley Security’s electronic security businesses in Germany, Portugal, Switzerland, Singapore and India.
According to the company, the acquisition is aligned with Securitas’ ambition to double the size of its security solutions & electronic security business and expands Securitas’ electronic security footprint and capabilities. The purchase price is an estimated US$64M.
The acquired entities include an integrated electronic security portfolio comprising design, installation, maintenance and alarm monitoring; and security solutions such as access control, intrusion, video, fire and integrated systems. The combined businesses employ 580 people, operating in five nations, through 20 branch offices, 11 of which are located in Germany. The business operates two monitoring centres: one in Germany and one in Portugal.
Total sales of the in-scope business amounted to US$85M 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,” said Magnus Ahlqvist, president and CEO, Securitas, in a statement. “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.”
The acquisition-related costs are expected to be SEK$60M (Swedish Krona), some to be recognized in 2020 but mostly in 2021. The acquisition is expected to be EPS accretive as of 2022. The acquisition will require customary regulatory approvals and is expected to close during the fourth quarter of 2020.
Securitas acquired Diebold’s North American electronic security business in 2016 and Kratos’ Public Safety and Security division, a U.S.-based systems integrator, in 2018.