INSIGHTS
Securitas has acquired more than 50-percent shares in the security services company Al Sharika Al Muatfawika Likhadamat Al Amin Wa Al Himaya in Jordan. The seller is the Jordanian Company JoSecure, fully owned by King Abdullah II Design and Development Bureau. Enterprise value is estimated to US$3.6 million.
Securitas Acquires the Majority of Jordanian Security Services Company
Date: 2011/06/14
Source: Securitas
Securitas has acquired more than 50-percent shares in the security services company Al Sharika Al Muatfawika Likhadamat Al Amin Wa Al Himaya in Jordan. The seller is the Jordanian Company JoSecure, fully owned by King Abdullah II Design and Development Bureau. Enterprise value is estimated to US$3.6 million.
The company has annual sales of approximately $3.1 million and approximately 800 employees, which makes it the second largest security services company in Jordan. The security services market in Jordan is fragmented and is expected to grow fast.
The company is geographically present all over Jordan with concentration in the cities of Amman and Aqaba. The company is mainly operating in the customer segments banks and financial institutes, real estate developers, communications companies and commercial entities.
The acquisition is consolidated in Securitas as of Jun. first, 2011.