Securitas has released a statement announcing that the company’s acquisition of Stanley Security is conditional upon regulatory approval and customary closing conditions and is now expected to close during the third quarter 2022. The original announcement on the acquisition anticipated that the deal would be closed within the first half of the year.
On December 8, 2021, Securitas announced it had signed an agreement to acquire the Electronic Security Solutions business from Stanley Black & Decker Inc. for a purchase price of MUSD 3,200 on a debt and cash free basis.
The regulatory approval processes, which were initially communicated to be expected to be finalised during the first half year of 2022, are still ongoing and it is now expected that the transaction will close during the third quarter of 2022.
“The acquisition of Stanley Security is transformational for both Securitas and the security industry, and we look forward to welcoming Stanley Security and all of its employees into the Securitas Group upon closing the transaction,” says Magnus Ahlqvist, President and CEO of Securitas.