Securitas acquires 65 percent stake in Tehnomobil in Croatia

(Photo: securitas.com)

Securitas has acquired 65 percent of the shares in the security solutions company Tehnomobil in Croatia. The purchase of the remaining 35 percent of the shares is agreed to take place at the end of 2015. Enterprise value is estimated at about EUR 6 million (MSEK 52), the company said in a release.

Tehnomobil has annual sales of approximately EUR 7.5 million (MSEK 65) and 60 employees. The company is the largest integrator of security systems in Croatia and offers a wide range of technical services, such as video surveillance, fire and gas detections, intrusion detection, access control and parking systems. Tehnomobil has a national footprint, with the head office in Zagreb.

Securitas is the second largest player in the security services market in Croatia. With this acquisition, Securitas strengthens its technology offerings in the country as well as in the Balkan region. The acquisition is consolidated in Securitas as of November 1st, 2013.