Securitas has made another acquisition; this time in the Australian security market by buying Fredon Security, an electronic security company. The purchase price is estimated to $32m Australian dollars, or about £17m.
Fredon was founded in 2012 as a division within Fredon Group, an Australian engineering and building services company. Fredon specialises in high-end electronic security including system design, engineering, installation, commissioning and maintenance. The company has about 110 employees with a strong footprint across Australia’s key cities; Melbourne, Canberra, Brisbane, Perth and Sydney, where it is based. Through strong organic growth the company has established itself in the technology, commercial and government client segments, the firms say. Fredon annual sales were $37m A in the financial year ending June 2019.
Andreas Lindback, Divisional President, Securitas AMEA says: “We are pleased to welcome the Fredon Security team onboard for an exciting journey together with Securitas. Our ambition is to be the leading protective service provider in Australia. The acquisition of Fredon Security puts us in a position of strength in delivering quality electronic security services to our clients and we will continue growing the business together with the team. In combination with our recent investments and growth into our guarding, alarm monitoring and remote video solutions services we are in a strong position to build long-term client partnerships and offer our clients integrated security solutions based on their individual needs and risks.”
Securitas entered the Australian market in 2017. The acquisition is expected to close and is targeted to be consolidated into Securitas in January. Visit www.securitas.com.
