Securitas acquires Guardian Armored Security and Cono Sur 
(10/09/2007)
Loomis AB, the Securitas cash handling services division, has acquired Guardian Armored Security Inc., a Michigan based cash handling services company. With this acquisition, Loomis becomes the leading cash handling company in the Michigan market.
The Guardian cash handling operations in Michigan consists of 205 employees based in three operating locations within the state. The operation has annual sales of approximately MSEK 64 (MUSD 9) and comprises transportation and cash management services.
The purchase price is approximately MSEK 28 (MUSD 4). The acquisition is consolidated in Loomis as of September 1, 2007.
Securitas has also announced it has acquired a security services company in Argentina. As part of the strategy to grow the business in Latin America, Securitas in Argentina has entered into an agreement to acquire 100 percent of the shares in the security services company Cono Sur S.A.
Enterprise value is estimated to MSEK 37 (MARS 17). Cono Sur has annual sales of approximately MSEK 60 (MARS 27). The business is located to the Province of Buenos Aires, the City of Buenos Aires and the southern part of the country. Primarily, Cono Sur is active within permanent guarding, in the market segments health, banks and industries.
The acquisition is consolidated in Securitas AB as of September 1, 2007.
Related topics: Security Companies Security guarding
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