Securitas Systems acquires in Europe
STOCKHOLM--Securitas Systems announced last week the acquisition of Installerende Partners, a supplier of integrated security and IP satellite services to large customers in Holland. It is the end of an active fourth quarter to 2007 that also saw Securitas Systems purchase PEI Systems and Securex in the United States.
As with the other deals, Securitas Systems announced the purchase price as a multiple of EBITDA, a factor of between five and seven. Installerende's sales were roughly $4 million for 2006 and the company employs 25.
In a press release, Securitas Systems chief executive officer Juan Vallejo praised Installerende's reputation for providing custom-fit security systems to its customers and said, "The acquisition of Installerende Partners is a natural step in our strategy to secure and strengthen our position on the Dutch market."