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IMAP yrityskauppa: Securitas osti kroatialaisen turvallisuuspalveluyrityksen

The regional market for security services has become ever more interesting for foreign investors. After the acquisition of the Alarm West Group (AWG) in Bosnia and Herzegovina at the end of 2010, Securitas has continued with investments in Croatia.

ZAGREB, 10. January 2012. – Securitas, the largest European and second-largest worldwide provider of security services, completed another in a series of regional transactions in this sector: the acquisition of an 85% share of the Croatian security company „Protect“, from Rijeka, Croatia. The value of the acquisition is estimated at 43 million Croatian kunas (about €5.73 million). The acquisition process was managed by Ascendant Capital Advisors as the exclusive financial advisor to the owners of „Protect“.

"This is our first transaction of 2012, which continues our line of eight transactions in the 2011.  We are especially pleased that the owners of Protect recognized our qualifications in the security services sector, which we have shown previously through our work on the largest security deal in Bosnia and Herzegovina, the acquisition by Securitas of the AWG Group", said Slaven Kordić, partner in the firm Ascendant Capital Advisors. Kordić stated that, as in Bosnia and Herzegovina and Serbia, Croatia is the third country in which Ascendant is actively participating in the consolidation of the security services sector.

The market for security services in Croatia remains very fragmented, although this and similar transactions are gradually leading to a market consolidation. More than 200 security firms operate on the market, although the first ten today account for close to 60% of the market. Securitas is the first and currently the only international security company operating on the Croatian market. Through the acquisition of Protect, Securitas has taken over a company with annual revenues of around 60 million Croatian kunas (€8 million), with over 600 employees.

IMAP Croatia advised the Seller throughout the process.