Following the strategy to expand in Eastern Europe, Securitas has acquired 85 percent of the shares in the security services company Alarm West Group in Bosnia and Herzegovina. The agreement includes an option of acquiring the remaining 15 percent. Enterprise value is estimated to US$17 million.
Alarm West Group, with approximately 1,200 employees, has annual sales of approximately $18 million. The company is specialized in guarding, but has also alarm installations operations and mobile services. Alarm West Group operates in all regions of the country and has diversified customer portfolio.
With this acquisition, Securitas will become the market leader in security services in Bosnia and Herzegovina, with approximately 25 percent of the market share.
The acquisition is consolidated in Securitas as of Dec.1, 2010.