Securitas: Securitas acquires VNV Beveiliging BV in the Netherlands
VNV is active within guarding (80 percent of sales), installation and servicing of access control systems and alarms (7 percent of sales), monitoring of alarms (4 percent of sales) and other security-related services (9 percent of sales). Total sales for 2001 are estimated to be MEUR 170 with an operating margin of approximately 7 percent.
VNV is 77 percent owned by an investment company and the management owns the remainder of the company. Mr. Gustave Ho-Meau Long has successfully been the company's Managing Director for 10 years and he will continue in this position after the acquisition.
The purchase price is set to some MSEK 1,036 (MEUR 110) and goodwill as a result of the acquisition is estimated at MSEK 961 (MEUR 102) and will be amortized over 20 years.
"The acquisition of VNV will enhance our market position and strengthen our management team in the Netherlands and at the same time contribute positively to the income of the Securitas Group from year 2002" says Thomas Berglund, President and CEO of Securitas.
The acquisition is not subject to approval by Competition Authorities and will be included in the Securitas Group from January 1, 2002.