Securitas Systems buys Securex

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12/18/2007
Securitas Systems has strengthened its retail portfolio by acquiring Securex, a division of LP Innovations that focuses on retail security. This comes about three months after its acquisition of PEI. Here's my favorite part of what's a very short release: Securitas Systems has purchased the assets of Securex, a division of LP Innovations, Inc. The purchase price is between 5-6x EBITDA. This is a classic piece of seeming to give information without actually giving information. It's the same way they characterized their PEI deal, as a multiple of EBITDA. And maybe it's a sign they're buying healthy companies, who have solid positive EBITDAs. But a multiple of revenues or RMR would give us a much better idea of the size of the deal, obviously.

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