Securitas AB announced that it has completed the acquisition of Diebold's North American Electronic Security Business, a deal that was first announced last October. The acquired business has more than 70 years of operating history and provides a comprehensive set of electronic security solutions and services including design, build, integration, installation, and monitoring. The business primarily serves commercial businesses and generated revenue of approximately $330 milliion for the fiscal year ending June 30, 2015.
Securitas President and CEO Alf Göransson states: “During the past years, we have focused on strengthening our technological expertise and come far to become the leading security solutions company. Securitas is at the forefront of the transformation of the security industry and we receive proof of this every day, in our interaction with existing and potential customers. With the acquisition of Diebold’s North American Electronic Security business, we will be able to further accelerate our development”
The total deal value is $350 million with 10 percent of the price contingent on the successful transfer of certain customer relationships to Securitas. The total enterprise value to adjusted 2015 EBITDA multiple is approximately 11x.
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