According to an official statement issued today by the security giant, the purchase of the remaining 30% of the shares is agreed to take place in 2011 and will be based on the financial performance of the company during the years 2009-2010. Enterprise value is estimated to MSEK 51 (MPLN 18).
Purzeczko is the strongest local security services player in the eastern region of Poland, with annual sales of MSEK 110 (MPLN 39) and 1,690 employees. The company operates mainly in the security guarding arena, but has also mobile patrols, alarm monitoring and fire-fighting operations.
Boost to market share
In the wake of this acquisition, Securitas’ Polish operation boasts total sales of MSEK 507 (MPLN 180) with about 4,900 employees. Market share stands at approximately 4%..
The polish economy is developing strongly, with annual GDP growth of 5.3%. The Polish commercial security market is highly fragmented. The whole security market value is estimated to MSEK 13,500 (MPLN 4,800) with approximately 165,000 security employees.
The acquisition has been consolidated in Securitas as of 15 September.
