Securitas has acquired 65 percent of the shares in the security services company Ave Lat Sargs in Latvia. There is an agreement to acquire the remaining 35 percent of the shares in 2014. Enterprise value of the acquired 65 percent of the shares is estimated to MSEK 14 (MLVL 1.1).
Ave Lat Sarges is one of the largest security services companies in Latvia. The company has annual sales of approximately MSEK 40 (MLVL 3.1) and 280 employees. Ave Lat Sargs is mainly operating within guarding, technical security solutions and monitoring.
The acquisition is consolidated in Securitas as of November 1, 2011.