Following the strategy to expand the Latin American platform, Securitas has acquired 71 percent of the shares in Seguridad Burns de Colombia S.A. The purchase of the remaining 29 percent of the shares is agreed to take place in 2010 and will be based on the financial performance of the company in 2009. Total enterprise value is estimated to MSEK 34.
Burns de Colombia is an important player with a good reputation and history in the Colombian security services market. The company has a quality portfolio and approximately 1.000 employees. Annual sales of the company are about MCOL 21.500 (MSEK 72).
Colombia has over the past three years had GDP growth of 5 to 7 percent and an inflation rate of less than 5 percent. The security services market in Colombia is very fragmented. The market is forecasted to grow 10 to 12 percent annually in the short to mid term.
The acquisition will be integrated in Securitas as of June 1, 2007.
This press release is also available at: www.securitas.com
Information:
Gisela Lindstrand, Senior vice President Corporate Communications and Public Affairs,
phone +46 8 657 7332 or +46 70 287 8662
Securitas acquires security services company in Colombia
Published
24 May 2007 12:01
