June 23rd, 2011
Bain Capital and Hellman & Friedman Announce Acquisition of Securitas Direct
LONDON, U.K.
Global private equity firms Bain Capital and Hellman & Friedman LLC (H&F) have today signed definitive documentation to acquire Securitas Direct (“the Company”), the market leading provider of monitored alarms to consumers and small businesses in Europe. The transaction will see affiliates of Bain Capital and H&F acquire Securitas Direct from Swedish private equity firm EQT.
Securitas Direct is the largest provider of high quality alarm and security services to residential homes and small businesses in Europe and South America. Through its proprietary, industry-leading technology platform, the Company ensures customer peace of mind by remotely monitoring properties 24 hours, 7 days a week and ensuring rapid response. Founded in 1988 as part of the Securitas group of companies in Sweden, Securitas Direct has expanded its business into Finland, Norway, Denmark, France, the Netherlands, Belgium, Spain, Portugal, and South America. Through a focus on growth, investment into a scalable platform and strong entrepreneurship at a local level, the Company has grown to more than 1.3 million customers and annual revenues over €600 million.
Dick Seger, CEO of Securitas Direct, said: “The support of Bain Capital and H&F marks an exciting new opportunity for the Company. As we continue to execute on our vision for Securitas Direct, we will remain committed to providing outstanding service to all our loyal customers as well as continuing to grow our business for the benefit of all our stakeholders, business partners, and employees.”
Commenting on the acquisition, Ted Berk at Bain Capital, said: “Securitas Direct is the clear leader in an under-penetrated market for a service that is highly valued by consumers – attributes that will contribute to the Company’s continued growth and market leadership. We are very impressed with the Company’s historic success and look forward to partnering with this world class management team in the next phase of growth.”
Stefan Goetz at H&F, added: “Securitas Direct is a uniquely positioned company with excellent growth prospects, attractive reinvestment opportunities and defensive characteristics – all of which are key investment criteria for H&F. We look forward to working in partnership with Bain Capital and the management team of Securitas Direct to realise our shared vision for the Company.”
Bain Capital and H&F were advised by Goldman Sachs, Nomura, and Bank of America Merrill Lynch. Financing for the transaction will be provided by Bank of America Merrill Lynch, Goldman Sachs, HSBC, Morgan Stanley, Nomura, and Nordea.
Notes to Editors
About Bain Capital
Bain Capital, LLC (www.baincapital.com) is a global private investment firm that manages several pools of capital, including private equity, venture capital, public equity, credit products and absolute return, with approximately $65 billion in assets under management. Since its inception in 1984, the firm has made private equity investments and add-on acquisitions in more than 300 companies worldwide. Bain Capital has a distinctly people-intensive, value-added approach to investing, with a strong emphasis on supporting management teams to drive strategic and operating improvements. Bain Capital Europe, the firm’s European private equity affiliate, has been investing with the same philosophy since 1989. Bain Capital Europe private equity investments have included such leading businesses as WorldPay, Styron, IMCD, Cerved, and FCI. Bain Capital has offices in London, Munich, Boston, Chicago, New York, Hong Kong, Mumbai, Shanghai and Tokyo.
About Hellman & Friedman LLC
Hellman & Friedman LLC is a leading private equity investment firm with offices in San Francisco, New York and London. Since its founding in 1984, Hellman & Friedman has raised and, through its affiliated funds, managed over $25 billion of committed capital. The Firm focuses on investing in superior business franchises and serving as a value-added partner to management in select industries including internet & digital media, software, business & marketing services, financial services, insurance, media, healthcare and energy & industrials. Recent investments include: Goodman Global, Inc., Getty Images, Inc., Kronos Incorporated, Associated Materials, LLC, Internet Brands, Inc, Gaztransport & Technigaz S.A.S., IRIS Software Group Limited and Web Reservations International. For more information on Hellman & Friedman, visit www.hf.com.
About Securitas Direct
Securitas Direct is a leading provider of high-quality security services based on a standardised range of alarm products to homes and small businesses. The group is active in ten countries including Sweden, Finland, Norway, Denmark, France, Belgium, the Netherlands, Spain, Portugal and Chile. For more information, please visit www.securitas-direct.com.
For further enquiries please contact:
Securitas Direct
Lars Andersson
Tel: +46 706 32 75 80
Bain Capital
Ed Gascoigne-Pees / Georgina Turner
Tel: +44 (0) 207 269 7132 / 7136
Hellman & Friedman LLC
Hugh Morrison / Kate Ruck Keene
Tel: +44 (0) 207 920 2334 / 2322