Securitas Acquires Aviation Security Company in the US
STOCKHOLM, Jan 11, 2019 /PRNewswire/ --
Securitas Transport Aviation Services USA has acquired Global Elite Group, a leading security services provider to the aviation industry in the US. The purchase price is approximately MUSD 22 (MSEK 200), contingent upon reaching certain targets.
Global Elite Group is based in Garden City, New York, and specializes in providing high level security services to various airlines, airports and airport related customers. The customer base consists of more than 60 commercial airlines and numerous general aviation clients. The growth pattern in the company has been solid over the years with total sales expected to be MUSD 32 (MSEK 290) for 2018. The number of employees is approximately 1 050.
Securitas runs a twofold strategy in the US aviation market, addressing both the federal government with passenger and baggage screening for the Transportation Security Administration, as well as security services for the commercial market such as airlines, airports and airport related customers (e.g. cargo). The estimated market volume for the latter, i.e. the commercial market related to 450 airports, is between BUSD 1.3-1.8.
The acquisition is consistent with Securitas strategy of expanding in the aviation industry. Global Elite Group is considered a premier aviation security service provider in the US. The company will strengthen and complement Securitas current aviation organization, and the combined network, footprint, licenses and know-how will increase the value we bring to existing and new customers.
"We are looking forward to welcoming the team from Global Elite Group into our airport security organization in the US, and together we will form a strong team. There are many opportunities for us in this growing market that we are looking forward to explore together, says Marc Pissens, President Securitas Aviation and member of Securitas Group Management." William McGuire, President and CEO of Global Elite Group further added: "We are excited about this new chapter for our company in joining Securitas and look forward to continued growth and success in the aviation security market."
The acquisition is consolidated in Securitas as of January 10, 2019.
Information:
Micaela Sjökvist, Head of IR and Acting SVP Corporate Communications and Public Affairs, Securitas AB, mobile +46 76 116 7443 or email micaela.sjokvist@securitas.com
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SOURCE Securitas
