Securitas Enters the Security Services Market in Sri Lanka
1 June 2010
Following the strategy to enter new markets, Securitas has acquired 60 percent of the shares in the security services company Bren Security in Sri Lanka. Enterprise value is estimated to MSEK 37 (MLKR 570).
Bren Security has annual sales of approximately MSEK 15 (MLKR 230) and approximately 1,050 employees. The company operates in guarding services, mainly for embassies, international non governmental organizations (NGOs), 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 years 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.
The acquisition is consolidated in Securitas AB as of June 1, 2010.
This press release is also available at: www.securitas.com
Gisela Lindstrand, Senior Vice President Corporate Communications and Public Affairs, Securitas AB, phone +46 10 470 3011, mobile +46 70 287 8662, or email firstname.lastname@example.org