Securitas acquires FE Moran Security Solutions for $82M

STOCKHOLM—Securitas announced it has acquired FE Moran Security Solutions, a super-regional alarm monitoring and electronic security systems integration company doing business since 2003, for approximately $82 million.

The acquisition increases Securitas' density and offerings in the United States' Midwest region and is aligned with Securitas' ambition to double the size of its security solutions and electronic security business.

"This acquisition supports Securitas' strategy, strengthens our position as a leader in protective services and our ambition to double the size of our security solutions and electronic security business by 2023,” Securitas AB President and CEO Magnus Ahlqvist said in the announcement. “This acquisition complements our North American electronic security business model and will further strengthen our position as the leader in protective services."

FE Moran Security Solutions provides an integrated electronic security offering – from design to installation and from maintenance to alarm monitoring – and focuses on commercial clients in several Midwestern states across the U.S., as well as numerous marquee national account clients. Their portfolio includes electronic security services such as intrusion, video, fire and access control systems, as well as a UL-listed, TMA Five Diamond certified alarm monitoring center. The company has an outstanding reputation and is known for providing best-in-class service to its clients. Total annual sales amounts to approximately $53 million, mainly driven from a sizeable recurring monthly revenue (RMR) base and installation sales.

"We are very excited to welcome FE Moran Security Solutions' clients and electronic security team members to Securitas,” said Securitas Electronic Security President Tony Byerly. “Acquiring FE Moran Security Solutions provides Securitas Electronic Security with increased capabilities and expertise in the Midwest. Their talented team members, excellent client base and strong presence provide our North American electronic security business the opportunity grow and expand within the region,"

FE Moran Security Solutions will become part of Securitas Electronic Security, Inc. (SES) further strengthening Securitas' leadership in the commercial electronic security industry across North America. SES, like FE Moran, serves the commercial alarm monitoring and systems integration market. The two companies combined further provide a unique specialization in serving large multi-site enterprise-wide national and regional clients.

"Our team has worked hard over the past 17 years to build one of the country's leading electronic security providers, so finding the right home for our clients and our associates was extremely important,” FE Moran Security Solutions President, CEO and Founder Brett Bean said about the deal. “I am confident Securitas is the right home and is best positioned to not only care for what we've accomplished, but to take it to the next level.”