Pinkerton expands reach with Lincoln Security acquisition
CERRITOS, Calif. - Lincoln Security, one of the largest privately held guard companies in the Los Angeles area, is the latest to join the Pinkerton team, building upon PinkertonÃ¢â‚¬â„¢s presence in the Southern California region.
PinkertonÃ¢â‚¬â„¢s parent company, Swedish security firm Securitas, bought Lincoln Security at the end of March for $13.7 million. The guard company employed 3,000 people, with a presence in Southern California, Oregon and Nevada. It was forecast to produce $36 million in revenue in 2003.
Ã¢â‚¬Å“Lincoln has business throughout Southern California,Ã¢â‚¬Â said Tony Sabatino, senior vice president for the Southern California and Hawaiian region for Pinkerton. Ã¢â‚¬Å“We picked up significant market share in the Los Angeles, Long Beach and the Palm Desert area.Ã¢â‚¬Â
The addition of Lincoln brings PinkertonÃ¢â‚¬â„¢s market share in the Los Angeles area from 21 percent up to 22.5 percent, said Sabatino. That represents about 10 percent growth, he said.
Little will change at Lincoln Security for now. One of the former owners of Lincoln Security, Doug Robinson, remains onboard as area vice president of Pinkerton. Robinson also owned the business with Howard Brink, who plans to pursue other interests.
Much of Lincoln SecurityÃ¢â‚¬â„¢s management team also remains intact. Ã¢â‚¬Å“We actually were able to pick up some wonderful talent from the Lincoln management,Ã¢â‚¬Â said Sabatino.
It has yet to be decided whether Securitas will maintain Lincoln SecurityÃ¢â‚¬â„¢s office here since it is located only 10 miles from a Pinkerton office in Signal Hill, Calif.