Sweden's Securitas AB acquires Romanian security company CPI Security Group

Nordic Business Report, April 20, 2007

NORDIC BUSINESS REPORT-20 April 2007-Sweden's Securitas AB acquires Romanian security company CPI Security Group(C)1994-2007 M2 COMMUNICATIONS LTD http://www.m2.com

Swedish security group Securitas AB said on Friday (20 April) that its division Securitas Services Europe has agreed to acquire Romanian security services company CPI Security Group.

The purchase will be effected in two stages, Securitas initially acquiring a majority stake of 55% and the remaining 45% in 2010.

The enterprise value is estimated at SEK29m.

CPI Security Group is one of the major players in the Romanian security market with a strong portfolio within permanent guarding services. The company has over 2,000 employees and is estimated to achieve sales of SEK87m in 2007.

Securitas, headquartered in Stockholm, Sweden, is the world's largest security group with 215,000 employees in more than 30 countries. In 2006 Securitas' guarding businesses reported sales of over SEK49bn. Securitas is listed on the Nordic Exchange in Stockholm.

One British pound (GBP) is worth approximately 13.71 Swedish kronor (SEK).

((Comments on this story may be sent to nbr.feedback@nordicbusinessreport.com))