Following the strategy to increase its presence in Asia, Securitas acquired security services company Legend Group Holding International in Singapore. The transaction value is estimated to more than US$7 million.
Legend has approximately 600 employees and annual sales of more than $8 million. The company is considered as quality service provider. In the quality-rating system used by the Singapore Police, Legend boasts an A rating.
The security services market in Singapore is regulated by the authorities. In total, there are approximately 55,000 registered guards in Singapore.
Securitas’ presence in Singapore is an important part of the company’s overall strategy for Asia. After this acquisition, Securitas in Asia has operations in China, Hong Kong, Taiwan, Vietnam, Thailand and Singapore.