Securitas enters the security services market in Croatia

Extracted 30JUL2011 from

Securitas has acquired 85 percent of the shares in the security services company Zvonimir Security in Croatia. Enterprise value for the 85 percent of the shares is estimated to MSEK 49 (MHRK 40).

Zvonimir Security is one of the leading security services companies inCroatia, with annual sales of approximately MSEK 82 (MHRK 67) and approximately 1,000 employees. The company offers mainly guarding and mobile services and operates acrossCroatia.

The Croatian security services market is fragmented, however the top 10 companies account for 60 percent of the market.