Determined to explore new markets in the current globalised world of business and services, Securitas has acquired 60 percent of the shares in the security services company Bren Security in Sri Lanka. Enterprise value is estimated to MSEK 37 (MLKR 570).
At the end of a 30 years armed conflict, Sri Lanka is now well poised to achieve high sustainable economic growth, with an estimated GDP growth of approximately 6 percent during the coming two years.
The security services market in Sri Lanka is very fragmented, with about 300 security services companies.
Bren Security has annual sales of approximately MSEK 15 (MLKR 230) and approximately 1,050 employees. The company operates in guarding services, mainly for embassies, international non - governmental organizations (NGOs), commercial sites and residential customers in the Colombo city area. Bren Security also provides mobile security services for special events and VIP escort services.