Securitas Security Systems has entered into an agreement to acquire Südalarm Wachtel in Stuttgart with annual sales of MEUR 14 (MSEK 128) and 120 employees. The company, which was founded in 1945, is mainly active in installation and maintenance of security systems for large and middle-sized companies.

 

The enterprise value (purchase price and assumed net debt) of the acquisition amounts to MEUR 5,3 (MSEK 48). The goodwill of MEUR 3,5 (MSEK 32) will be amortised over 10 years.

 

The acquisition, which will be consolidated in the Securitas group from 1st of August 2003, will create a platform for Security Systems in Germany enabling Securitas to offer its German clients combined guard services and systems solutions.

 

After the acquisition Security Systems in Germany will have sales of MEUR 23 (MSEK 210) and 225 employees.