Securitas Systems buys PEI
In their first U.S. acquisition as an independent firm, Securitas Systems announced on Thursday the purchase of PEI Systems, an integrator serving New York and New Jersey. They're pretty vague with the numbers, saying they paid somewhere between six and nine times EBITDA, which who knows how much that is for a company with a little more than $11m in revenues. I'm guessing it works out to about one times revenues, maybe a little more to account for the 20 percent of revenues collected via service contracts. I'll have a little more on the newswire Thursday, but no one is calling me back on this.