Securitas Systems buys Premier to add strength in Fla.
STOCKHOLM, Sweden--Securitas Systems, currently a division of global security giant Securitas, announced April 5 the acquisition of Premier System Solutions, a Florida-based commercial integrator. Terms of the deal were not disclosed, but Premier is estimated to total $4.5 million in revenues in 2006, and the enterprise value of the acquisition amounts to $4.6 million.
Securitas Systems chief operating officer Martin Guay said the deal helps him to "fill in the footprint" in Florida, which he called "a very important market for us." Further, Premier, whose 17 employees will be retained, has an expertise in the health care vertical, a market Guay identified in March as a target for his company, which will officially split from the larger Securitas organization into its own entity on Sept. 29. "In the future we see some of the markets that may be important for us are health care, education, pharmaceutical and specializing in national accounts," he told Security Systems News (see the April issue for details on the Securitas split).
Guay said Florida will help Securitas Systems target those national accounts, as many "companies that are headquartered in other parts of the country have locations there, to take advantage of the labor situation. So there should be a lot of pull through for our national accounts.
Premier will be rebranded as Securitas, and Randy Fierbaugh, one of three principals in the formerly private company, will be managing the branch. His two partners will be responsible for sales and business development.