Securitas AB tells that the company has acquired the security services company Chubb Guarding Services Singapore. Enterprise value is estimated to MSEK 37 (MSGD 7).
Chubb Guarding Services Singapore has annual sales of approximately MSEK 94 (MSGD 18) and approximately 600 employees. The company has a quality customer base, and its customer portfolio is well diversified across customer segments and between the public and private sectors.
Chubb Guarding Services Singapore is among the top 5 leading guarding companies in Singapore. By acquiring Chubb Guarding Services Singapore, which is also an “A” Grade Singapore Guard Company like Securitas in Singapore, Securitas can expand its market share and business scale in Singapore.
The security services market in Singapore is regulated by the authorities. In total, there are approximately 35,000 registered manned guards in Singapore in about 300 registered guarding companies. Securitas is present in Singapore since 2010, with approximately 600 employees.
The acquisition is consolidated in Securitas AB as of September 28, 2011.