Sweden's Securitas Buys Serbian Security Services Firm Gordon

The estimated value of the enterprise is 33 million Swedish crowns ($4.6 million/3.1 million euro), Securitas said in a statement.

It added it will strengthen its position in Serbia with the acquisition and will become number two in the Serbian security services market, with approximately 2,600 employees.

Gordon has annual sales of some 51 million Swedish crowns and around 1,100 employees, Securitas said.

Most of Gordon’s revenue comes from guarding services, the statement said. The firm is also active in technical security, monitoring operations and fire prevention.

The Serbian security services market is estimated at 144 million euro. It is fragmented, having some 220 companies with a total of 46,000 employees, Securitas said.

Securitas (www.securitas.com) operates in some 40 countries in North America, Latin America, Europe and Asia, and employs about 240,000 people.

(1 euro=10.4833 Swedish crowns)