Securitas subsidiary Securitas Critical Infrastructure Services, Inc (SCIS), under the independent direction of its Board, has entered into an agreement to acquire certain inspection and background investigations assets of MSM Security Services LLC. The purchase price is approximately MUSD 11 (MSEK 102), contingent upon reaching certain business development targets.
Securitas Critical Infrastructure Services, Inc is an independent US subsidiary of Securitas AB, which specializes in providing a wide range of security services to federal agencies, aerospace and defense contractors, and federally regulated energy and aviation facilities.
The transaction will expand SCIS' federal background investigations business and is anticipated to add MUSD 15 (MSEK 140) of annual sales.
"We are very pleased to be completing this transaction with the owners of MSM," says Kevin Sandkuhler, CEO, SCIS, and we welcome the employees who will be joining SCIS."
"Over the past several years SCIS has expanded its service offering into federal background investigations under Kevin's leadership," says Tony Sabatino, Executive Vice President, Security Services North America, "this transaction will diversify the service offering of SCIS' Investigations sector and provide a broader base from which to continue its growth into the future."
The transaction is expected to close after regulatory approval, which is expected during the third quarter of 2019.
Information: Micaela Sjökvist, Head of IR, Securitas AB, mobile +46 76 116 7443 or email email@example.com
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