LawFuel.com – 19 November 2010 – International law firm Eversheds has advised Sweden based security solutions company Securitas, on its £43m acquisition of Reliance Security Group’s UK based man guarding security services operations.
Reliance Security Services is one of the leading man guarding security services providers in the United Kingdom. The company has a well diversified contract portfolio with a stable customer portfolio within guarding, mobile services, aviation security and security specialist services.
With this acquisition, Securitas will become among the largest security services companies in the United Kingdom, with annual sales of approximately £300m and about 12,500 employees.
The Eversheds team was led by Partner Robin Johnson who was assisted by Partner Adam Ferguson, Senior Associate Wyn Jones and Associate Simon Procter. Robin comments:
“This was a strategically important acquisition for Securitas in the UK. The transaction, due to the parties respective size, required cartel clearance at an EU level. Confidentiality was particularly important to all parties in this transaction, combined with a desire from both sides for certainty of completion. Our team was not only able to demonstrate an ability to work to a tight timetable but also the necessary dedication to achieve as much certainty to the process as possible.”
Alf Göransson, Securitas President and CEO comments:
“The acquisition is in line with Securitas’ strategy for the security services operations in Europe, aiming to be among the top two largest security services companies in the markets where we operate. The acquisition will substantially strengthen our operations in the United Kingdom both in terms of customer base and national coverage. Eversheds provided a seamless service and we are grateful for their continued advice and assistance.”