Annual Report 2008 - Securitas

Purzeczko, Poland
Securitas has acquired 70 percent of the security services company Purzeczko.
Purzeczko operates mainly in guarding but has also mobile patrols, alarm
monitoring and fire fighting operations. The company is the strongest local
security services provider in the Eastern region of Poland. The company’s estimated
annual sales were at the time of acquisition approximately MSEK 110
with about 1,700 employees. Goodwill, which amounts to MPLN 8.1
(MSEK 23.2), is mainly related to geographical coverage and synergies in
the customer contract portfolio.
aCquIsItION Of thE busINEss IN puRzECzkO
SUMMAry BALANcE SHEET AS OF AcqUISITION DATE SEPTEMBEr 15, 2008
MSEK
Book
value of
acquisition
balance
Fair value
adjustment
and
purchase
price alloc.
Fair value
acquisition
balance
Operating non-current assets 14.1 – 14.1
Accounts receivable 14.4 – 14.4
Other assets 4.2 – 4.2
Other liabilities –22.2 –21.1 –43.3
Total operating capital employed 10.5 –21.1 –10.6
Goodwill from the acquisition – 23.2 23.2
Other acquisition related intangible
assets – 20.4 20.4
Total capital employed 10.5 22.5 33.0
Net debt –1.3 – –1.3
Total acquired net assets 9.2 22.5 31.7
Purchase price 1 – – –31.7
Liquid funds in accordance with
acquisition analysis – – 7.6
Total impact on the Group’s
liquid funds – – –24.1
1 whereof acquisition costs of MSEK 1.1.
70% of the shares in Purzeczko were acquired.
The acquisition has contributed to Total sales with MSEK 33.4 and to Net income for the year with MSEK 2.7.
The acquisition would, if it had been consolidated from January 1, 2008, have contributed to Total sales
with MSEK 108.2 and to Net income for the year with MSEK 3.2.
El Guardian, Argentina
Securitas has acquired the security services company El Guardian in Argentina.
The company operates mainly in the northeast and northwest parts of
the country. The acquisition strengthens Securitas’ position as the market
leader in Argentina. El Guardian had at the time of acquisition estimated annual
sales of approximately MSEK 134 and about 1,200 employees. Goodwill,
which amounts to MArS 37.4 (MSEK 85.2), is mainly related to geographical
coverage.
aCquIsItION Of thE busINEss IN El GuaRdIaN
SUMMAry BALANcE SHEET AS OF AcqUISITION DATE OcTOBEr 1, 2008
MSEK
Book
value of
acquisition
balance
Fair value
adjustment
and
purchase
price alloc.
Fair value
acquisition
balance
Operating non-current assets 3.4 – 3.4
Accounts receivable 14.2 – 14.2
Other assets 0.3 – 0.3
Other liabilities –12.2 –48.7 –60.9
Total operating capital employed 5.7 –48.7 –43.0
Goodwill from the acquisition – 85.2 85.2
Other acquisition related intangible
assets – 35.4 35.4
Total capital employed 5.7 71.9 77.6
Net debt –0.3 – –0.3
Total acquired net assets 5.4 71.9 77.3
Purchase price 1 – – –77.3
Liquid funds in accordance with
acquisition analysis – – 0.3
Total impact on the Group’s
liquid funds – – –77.0
1 whereof acquisition costs of MSEK 2.5.
Annual report
Notes and comments to the consolidated financial statements
All the shares in El Guardian were acquired.
The acquisition has contributed to Total sales with MSEK 26.5 and to Net income for the year with MSEK 2.3.
The acquisition would, if it had been consolidated from January 1, 2008, have contributed to Total sales
with MSEK 124.1 and to Net income for the year with MSEK 20.5.
Eureca Benelux Services, Belgium
Eureca (Satworld), the Netherlands
LuxTracing, Luxembourg
Securitas has acquired the Belgian company Eureca Benelux Services, Eureca
(the Satworld group of companies) in the Netherlands and the company Lux-
Tracing, based in Luxembourg. Securitas Alert Services – within Mobile and
Monitoring – operates a Track and Trace network throughout most EU countries.
with these three separate acquisitions, Securitas Alert Services has
increased its ability to deliver a more complete service to its customers. The
total number of employees within the three companies is 30 and the combined
annual sales were at the time of acquisition estimated to approximately
MSEK 70. Goodwill, which amounts to MEUr 8.3 (MSEK 84.5), is mainly
related to specialist knowledge in track and tracing and geographical expansion.
Securitas Annual report 2008
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