Securitas Acquires Security Services Company Paragon Systems
Securitas Group | Date:
Pinkerton Government Services, a company within the Securitas Group, acquired the security services company Paragon Systems in the U.S. With this acquisition, Securitas expands in the primary government security services market in the U.S. Enterprise value is estimated to US$ 33 million.
Paragon Systems has annual sales of approximately $132 million and approximately 3,000 employees. The company is based in Washington DC, and operates in eleven U.S. states.
Paragon is specialized in providing high-level, armed security officer services to various government agencies and facilities under the oversight of the U.S. Federal Protective Service and the U.S. Government Department of Defense.
"Paragon is one of the leading companies in the prime government sector in the U.S. The acquisition is in line with the Securitas Group's specialization strategy of acquiring high quality security providers that bring knowledge and experience from specialized customer segments", said Alf G?ransson, President and CEO of the Securitas Group.
The acquisition is consolidated in Securitas AB as of Jun. 30, 2010.