Allied Security picks up regional guard company
December 25, 2003
KING OF PRUSSIA, Pa. - Allied Security has expanded its presence in the east and south with its acquisition of regional and privately-owned guard company Professional Security Bureau Ltd.
Professional Security provides contract security services in eight states, from Massachusetts to Florida. As part of the acquisition, it will become part of Allied SecurityÃ¢â‚¬â„¢s network of 60 offices that cover 250 cities nationwide.
Though terms of the agreement were not disclosed, Professional Security had revenues in excess of $97 million during its 2003 fiscal year. The company has been in business for 36 years.
Ã¢â‚¬Å“The acquisition is part of our companyÃ¢â‚¬â„¢s strategy to increase our presence and services in targeted geographic markets and industry categories,Ã¢â‚¬Â said William C. Whitmore, president and chief executive officer of Allied Security, a guard firm that employs 23,000 people. Ã¢â‚¬Å“We will now increase our operations as a contract security services provider in several important markets throughout the Northeastern, Mid-Atlantic and Southeastern states.Ã¢â‚¬Â