SECURITAS AB Annual Report 2011

Sistem FTO, Serbia
Securitas has acquired all shares in the security services company Sistem
FTO in Serbia. Sistem FTO has approximately 3 200 employees. With this
acquisition, Securitas becomes the market leader in security services in
Serbia. The company had at the time of acquisition projected annual sales of
approximately MSEK 126. Goodwill, which amounts to MSEK 52.5, is mainly
related to geographical coverage and synergies.
ACQUISITION OF THE BUSINESS IN SISTEM FTO
SUMMARY BALANCE SHEET AS OF ACQUISITION DATE SEPTEMBER 29, 2011
MSEK
fair value
acquisition balance
Operating non-current assets 7.1
Accounts receivable 16.0
Other assets 6.7
Other liabilities -55.7
Total operating capital employed -25.9
Goodwill from the acquisition 52.5
Acquisition related intangible assets 7.1
Total capital employed 33.7
Net debt -4.0
Total acquired net assets 29.7
Purchase price paid -29.7
Liquid funds in accordance with acquisition analysis 0.3
Total impact on the Group’s liquid funds -29.4
All the shares in Sistem FTO were acquired.
The acquisition has contributed to total sales with MSEK 30.0 and to net income for the year with
MSEK 0.9. The acquisition would, if it had been consolidated from January 1, 2011, have contributed
to total sales with MSEK 121.8 and to net income for the year with MSEK 3.6.
Accounts receivable includes items not expected to be collected amounting to MSEK 7.8.
Transaction costs amounts to MSEK 1.6.
Orbis Security Solutions, South Africa
Securitas has acquired all shares in the security services company Orbis
Security Solutions in South Africa. Orbis Security Solutions has approximately
1 500 employees. The company had at the time of acquisition projected
annual sales of approximately MSEK 90. Goodwill, which amounts to
MSEK 24.9, is mainly related to geographical coverage.
Annual Report
Notes and comments to the consolidated financial statements
ACQUISITION OF THE BUSINESS IN ORBIS SECURITY SOLUTIONS
SUMMARY BALANCE SHEET AS OF ACQUISITION DATE OCTOBER 1, 2011
MSEK
fair value
acquisition balance
Operating non-current assets 1.7
Accounts receivable 1.7
Other assets 2.4
Other liabilities -19.7
Total operating capital employed -13.9
Goodwill from the acquisition 24.9
Acquisition related intangible assets 20.4
Total capital employed 31.4
Net debt 2.6
Total acquired net assets 34.0
Purchase price paid -34.0
Liquid funds in accordance with acquisition analysis 2.6
Total impact on the Group’s liquid funds -31.4
All the shares in Orbis Security Solutions were acquired.
The acquisition has contributed to total sales with MSEK 23.3 and to net income for the year with
MSEK 1.3. The acquisition would, if it had been consolidated from January 1, 2011, have contributed
to total sales with MSEK 93.2 and to net income for the year with MSEK 4.1.
Accounts receivable includes items not expected to be collected amounting to MSEK 0.1.
Transaction costs amounts to MSEK 1.4.
Deferred consideration amounts to MSEK 2.6 and has been recognized mainly based on assessment
of the future profitability development for an agreed period. The recognized amount is the maximum
amount of the final outcome of the payment.
Cobelguard, Belgium
Securitas has acquired all shares in the security services company Cobel-
guard in Belgium. Cobelguard has approximately 1 600 employees.The
company had at the time of acquisition projected annual sales of approximately
MSEK 625. Goodwill, which amounts to MSEK 199.0, is mainly
related to geographical coverage and synergies.
ACQUISITION OF THE BUSINESS IN COBELGUARD
SUMMARY BALANCE SHEET AS OF ACQUISITION DATE OCTOBER 1, 2011
MSEK
fair value
acquisition balance
Operating non-current assets 44.9
Accounts receivable 122.5
Other assets 22.0
Other liabilities -136.4
Total operating capital employed 53.0
Goodwill from the acquisition 199.0
Acquisition related intangible assets 103.0
Total capital employed 355.0
Net debt 2.0
Total acquired net assets 357.0
Purchase price paid -357.0
Liquid funds in accordance with acquisition analysis 44.0
Total impact on the Group’s liquid funds -313.0
All the shares in Cobelguard were acquired.
The acquisition has contributed to total sales with MSEK 167.6 and to net income for the year with
MSEK 1.1. The acquisition would, if it had been consolidated from January 1, 2011, have contributed
to total sales with MSEK 631.5 and to net income for the year with MSEK -2.0.
Accounts receivable includes items not expected to be collected amounting to MSEK 0.3.
Transaction costs amounts to MSEK 7.9.
Securitas Annual Report 2011
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