Securitas expands in the primary government security services market in the USA
Pinkerton Government Services Inc., a company within the Securitas Group, has agreed to acquire the security services company Paragon Systems Inc. in the USA. With this acquisition, Securitas expands in the primary government security services market in the USA. Enterprise value is estimated to MSEK 258 (MUSD 33).
Paragon Systems has annual sales of approximately MSEK 1,030 (MUSD 132) and approximately 3,000 employees. The company is based in Washington DC, and operates in eleven U.S. states.
Paragon is specialized in providing high level, armed security officer services to various government agencies and facilities under the oversight of the U.S. Federal Protective Service and the U.S. Government Department of Defense.
“Paragon is one of the leading companies in the prime government sector in the U.S. The acquisition is in line with the Securitas Group’s specialization strategy of acquiring high quality security providers that bring knowledge and experience from specialized customer segments”, says Alf Göransson, President and CEO of the Securitas Group.
The acquisition is consolidated in Securitas AB as of June 30, 2010.
This press release is also available at: www.securitas.com
Information:
Gisela Lindstrand, Senior Vice President Corporate Communications and Public Affairs, Securitas AB, phone +46 10 470 3011, mobile +46 70 287 8662 or email gisela.lindstrand@securitas.com
Securitas is a knowledge leader in security. By focusing on providing security solutions to fit each customer's needs, Securitas has achieved sustainable growth and profitability in 40 countries in North America, Europe, Latin America, Middle East, Asia and Africa. Everywhere from small stores to airports, our 260,000 employees are making a difference.
Securitas AB discloses the information provided herein pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act. The information was submitted for publication at 08.00 (CET) on June 9, 2010.
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