Securitas Rebrands To Securitas Technology
♦ Securitas Rebrands To Securitas Technology – Securitas Electronic Security will be rebranded to Securitas Technology “to better reflect its offerings”.
The addition of Stanley Security more than doubles Securitas’ technology business, positioning it globally as the second largest commercial technology provider, according to Securitas Technology global president Tony Byerly recently.
Securitas signed a definitive agreement to purchase Stanley Security from Stanley Black & Decker for $US3.2 billion in cash last December and the deal was completed July 22.
Of note, Stanley Security had an installation backlog growth of 33 per cent in 2021 and a record installation backlog growing at 18 per cent for the first half of 2022.
Securitas said it is targeting 8-10 per cent annual average sales growth in technology and solutions with an 8 per cent group operating margin by year-end 2025, with greater than 10 per cent long-term operating margin and a net debt-to-EBITDA ratio beneath 3x.
“Our 2 main driver towards 2025 are shifting more of the business towards more technology and solutions, and enhancing the quality and profitability of the guarding portfolio,” said Securitas president and CEO Magnus Ahlqvist.
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