Securitas (Swedish Security Company) - History

History

Securitas AB was founded in 1934 in Helsingborg, Sweden, as AB Hälsingborgs Nattvakt, when Erik Philip-Sörensen bought a small guarding company. In 1935, the name was changed to Förenade Svenska Vakt AB. The company expanded through acquisitions of several small security companies, initially in southern Sweden.

In 1949, AB Securitas Alarm was founded as the company's security-technology subsidiary, and during the following decade, the company started expanding internationally.

In 1972, the group was rebranded as Securitas, the Roman goddess of security and stability, with a logotype consisting of three red dots and the word "Securitas." The dots are described as representing the group's core values of "Integrity, Vigilance and Helpfulness."

In 1976, Erik Philip-Sörensen sold the Securitas group to his sons Jörgen Philip-Sörensen and Sven Philip-Sörensen, and in 1981, the group was divided between the sons, with the international operations developing into Group 4 and the Swedish operations retaining the Securitas brand.

In 1983, Securitas was sold to the holding company Skrinet, and in 1985, it was acquired by Investment AB Latour, controlled by Gustaf Douglas. Under the new ownership, the group focused on security, and in 1989, an international expansion was initiated, with acquisitions in Norway, Denmark and Portugal, and establishment in Hungary.

In 1991, Securitas was listed at the Stockholm Stock Exchange. In 1994, the group distributed ASSA AB (acquired in 1988) to its shareholders. Throughout the 1990s, foreign acquisitions were made in 11 European countries and in the United States.

In 1999, Securitas acquired Pinkerton, and in 2000, Burns Security, and several regional security companies in the United States. These acquisitions made Securitas one of the largest security companies in the world. In 2001, a new organization took effect, with five business areas according to types of services offered, and Loomis Fargo & Company was acquired.

In 2003, the group's security services in the United States were integrated under the Securitas brand, and the group's cash handling services were completely divisionalized, with a joint management for U.S. and European operations.

In 2006, the divisions Securitas Systems (alarm, monitoring, and access control systems), and Securitas Direct (solutions for homes and small businesses) were distributed to the group's shareholders and listed at the Stockholm Stock Exchange. In the same year, the divisions Mobile (small and medium-sized customers), and Alert Services (electronic surveillance of homes and businesses) were created (as of 2007 constituting the business segment Mobile and Monitoring).

In 2007, the United Kingdom cash handling services of the division Loomis were sold to Vaultex Ltd, owned by HSBC and Barclays.

In 2008, the division Loomis (cash handling) was distributed to the group's shareholders and listed at Nasdaq OMX Stockholm.

In 2010, Securitas acquired the security-services operations of Reliance Security Group in the United Kingdom.

In 2011, Securitas acquired Chubb Security Personnel in the United Kingdom.