Securitas has acquired the security services company Grupo Argos in Mexico. Enterprise value is estimated to US$3.2 million.
Grupo Argos has annual sales of approximately $7 million and about 900 employees. A majority of the operations are guarding services.
The Mexican security services market is fragmented, with approximately 6,000 security services companies registered. Securitas is currently the second largest private security services company in the country. With this acquisition, Securitas will strengthen its position in the Mexico City area.
The acquisition is consolidated in Securitas as of Dec. 1.