Annual Report 2008 - Securitas

Acquisitions
GRB Security, United Kingdom
Securitas has acquired the security services company GrB Security in the
United Kingdom. The company’s estimated annual sales at the time of
acquisition were MSEK 49. The company has 175 employees and provides
a full range of security services to its customers, including guarding, mobile
patrols and alarm receiving. Goodwill, which amounts to MGBP 1.1 (MSEK
12.7), is mainly related to geographical coverage in the Midlands.
aCquIsItION Of thE busINEss IN GRb sECuRIty
SUMMAry BALANcE SHEET AS OF AcqUISITION DATE MArcH 1, 2008
MSEK
Book
value of
acquisition
balance
Fair value
adjustment
and
purchase
price alloc.
Fair value
acquisition
balance
Operating non-current assets 0.6 – 0.6
Accounts receivable 8.7 – 8.7
Other assets 0.8 – 0.8
Other liabilities –8.8 –0.4 –9.2
Total operating capital employed 1.3 –0.4 0.9
Goodwill from the acquisition – 12.7 12.7
Other acquisition related intangible
assets – 6.5 6.5
Total capital employed 1.3 18.8 20.1
Net debt 1.0 – 1.0
Total acquired net assets 2.3 18.8 21.1
Purchase price 1 – – –21.1
Liquid funds in accordance with
acquisition analysis – – 0.1
Total impact on the Group’s
liquid funds – – –21.0
1 whereof acquisition costs of MSEK 0.8.
All the shares in GrB Security were acquired.
The acquisition has contributed to Total sales with MSEK 33.3 and to Net income for the year with
MSEK 2.1. The acquisition would, if it had been consolidated from January 1, 2008, have contributed to
Total sales with MSEK 46.2 and to Net income for the year with MSEK 3.6.
SATS and Servicios de Seguridad, Uruguay
Securitas has acquired the security services companies SATS and Servicios
de Seguridad in Uruguay. The majority of the business is geographically
located to the cities Montevideo and canelonas. combined, the two companies
have operations in guarding, monitoring and alarm response services.
The companies estimated annual sales at the time of acquisition were
approximately MSEK 76 and the companies have a total of 1,500 employees.
The acquisitions give Securitas a market leading position in Uruguay with
a 16 percent market share in the outsourced guarding market. Goodwill,
which amounts to MUyU 121.1 (MSEK 39.2), is mainly related to geographical
expansion.
aCquIsItION Of thE busINEss IN sats aNd sERvICIOs dE sEGuRIdad
SUMMAry BALANcE SHEET AS OF AcqUISITION DATE MAy 15, 2008
MSEK
Book
value of
acquisition
balance
Fair value
adjustment
and
purchase
price alloc.
Fair value
acquisition
balance
Operating non-current assets 5.7 –1.9 3.8
Accounts receivable 7.5 – 7.5
Other assets 0.9 – 0.9
Other liabilities –14.8 –17.6 –32.4
Total operating capital employed –0.7 –19.5 –20.2
Goodwill from the acquisition – 39.2 39.2
Other acquisition related intangible
assets – 22.5 22.5
Total capital employed –0.7 42.2 41.5
Net debt –0.9 – –0.9
Total acquired net assets –1.6 42.2 40.6
Purchase price 1 – – –40.6
Liquid funds in accordance with
acquisition analysis – – 1.5
Total impact on the Group’s
liquid funds – – –39.1
1 whereof acquisition costs of MSEK 0.5.
All the shares in SATS and Servicios de Seguridad were acquired.
The acquisitions have contributed to Total sales with MSEK 47.6 and to Net income for the year with
MSEK 0.1. The acquisitions would, if they had been consolidated from January 1, 2008, have contributed
to Total sales with MSEK 78.6 and to Net income for the year with MSEK 0.1.
FM Seguridad, Chile
Securitas has acquired the security services company FM Seguridad in
chile. The company is operational mainly in guarding, but also in monitoring.
It is primarily present in Santiago de chile and in La Serena in northern chile.
The company had at the time of acquisition projected annual sales of
MSEK 63 and a total of 1,200 employees. Goodwill, which amounts to
McLP 2,849.0 (MSEK 32.8), is mainly related to geographical expansion.
aCquIsItION Of thE busINEss IN fm sEGuRIdad
SUMMAry BALANcE SHEET AS OF AcqUISITION DATE JUNE 1, 2008
MSEK
Book
value of
acquisition
balance
Fair value
adjustment
and
purchase
price alloc.
Fair value
acquisition
balance
Operating non-current assets 0.5 – 0.5
Accounts receivable 8.6 – 8.6
Other assets 1.1 – 1.1
Other liabilities –7.1 –18.7 –25.8
Total operating capital employed 3.1 –18.7 –15.6
Goodwill from the acquisition – 32.8 32.8
Other acquisition related intangible
assets – 6.6 6.6
Total capital employed 3.1 20.7 23.8
Net debt –1.9 – –1.9
Total acquired net assets 1.2 20.7 21.9
Purchase price 1 – – –21.9
Liquid funds in accordance with
acquisition analysis – – 2.6
Total impact on the Group’s
liquid funds – – –19.3
1 whereof acquisition costs of MSEK 1.3.
Annual report
Notes and comments to the consolidated financial statements
All the shares in FM Seguridad were acquired.
The acquisition has contributed to Total sales with MSEK 41.1 and to Net income for the year with MSEK 2.1.
The acquisition would, if it had been consolidated from January 1, 2008, have contributed to Total sales
with MSEK 66.6 and to Net income for the year with MSEK 2.1.
Securitas Annual report 2008
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