Securitas Grows with Guarding Acquisition in Spain

Global security services provider Securitas just got a bit bigger.

The company announced this week that it had acquired PSI (Paneuropea de Seguridad Integral) in Spain, which offers security guarding services in a number of top Spanish cities.

PSI brings a fairly large sales base to Securitas, with forecasted 2006 sales of 42 million Euros (approximately $53.8 million in U.S. funds by current exchange rates). Securitas reports that the enterprise value of the acquisition is around 27 million Euros ($34.6 million USD), and that with the acquisition of PSI in Spain, Securitas guard operations in Spain will have an annual sales value of 480 million Euros (approximately $614.5 million USD).