Following the strategy to enter new markets, Securitas acquired 60 percent of the shares in the security services company Bren Security in Sri Lanka. Enterprise value is estimated to US$4.7 million.
Bren Security has annual sales of approximately $1.83 million and approximately 1,050 employees. The company operates in guarding services, mainly for embassies, international nongovernmental organizations, commercial sites and residential customers in the Colombo city area. Bren Security also provides mobile security services for special events and VIP escort services.
At the end of a 30-year armed conflict, Sri Lanka is now well poised to achieve high sustainable economic growth, with an estimated GDP growth of approximately 6 percent during the coming two years.
The security services market in Sri Lanka is very fragmented, with about 300 security services companies.