Securitas to take over German electronic security firm Protection One

By Patrick Miller |

  • Securitas has acquired Protection One for around MSEK 735 on a debt-free basis.
  • With this deal, Securitas will leverage Protection One’s customized client solutions to better serve its own clientele.

Securitas, the globally acclaimed intelligent protective services partner, has made it to the headlines for its proposed interest in acquiring Protection One, the electronic security company based in Germany. As per reports, this takeover is in line with Securitas’s strategy of increasing the scale of its security solutions and electronic security sales to twice the current number, by 2023. The acquisition is also expected to improve the company’s protective services capabilities in Germany.

Sources claim that Securitas purchased Protection One for around MSEK 735 (MEUR 72), on a debt-free basis.

For the unversed, Protection One is reputed to be a market leader in Germany and deals with electronic security and remote technology-centric security solutions. In 2020, the company’s annual sales were more than MSEK 337 (MEUR 33), more than 90 percent of which were on a recurring monthly revenue basis. The company is known to have its presence across 12 locations, with a workforce of 230 employees. Its operation center based in Meerbusch offers remote monitoring services with all-round-the-clock real-time intervention.

The company offers its entire electronic security services spanning 10,300 objects, for close to 7,000 clients, mainly SMBs, with the help of high-performance, custom-built installation offering.

As per sources, the costs pertaining to the takeover deal are anticipated to be MSEK 45, slated to be recognized between 2021 and 2023. The acquisition will be subject to competition authorities’ approval, with a tentative closure date during Q3 2021.

The Divisional President, Security Services Europe, Peter Karlströmer, has been quoted saying that they are extremely happy to have Protection One as a part of the Securitas family. The German player’s product portfolio comprising remote monitoring services and installations fits perfectly with Securitas' electronic security and security solutions strategy, he claimed, adding that the firm is thrilled about the new opportunities, which their increased focus on the SME segment and Protection One's experience in customized client solutions will bring about in the future. He also said that with this deal, Securitas will strengthen its mainstream offerings in the expanding Germany security market and will be able to serve its clients in an even better manner henceforth.



Source Credits:

https://news.cision.com/securitas/r/securitas-acquires-leading-electronic-security-company-in-germany,c3390310

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