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Secureco finishes core acquisitions in KZN

Rapidly growing security company, Secureco recently completed a R44,6m acquisition of Citiguard Natal, Watchdog Security, Alert Security, Natsec, Force 4, Proguard and Citicash.

Secureco, which is aiming to achieve a R400 million turnover within four years, was established following a substantial investment from ABSA Corporate Bank and Prime Africa Investments Limited (PAIL), a joint between CISCO - a top five security player internationally - and Southern Africa Investments Limited, a consortium led by Temasek, the Singaporean-based investment vehicle.

The purchases underscore the acquisitive security groups intentions to become a significant force in the local and national security industry. Angus Partridge, GEO (Group Executive Officer) of Secureco said the acquisition drive for the KwaZulu-Natal region was now completed. "We will now be focusing on bedding down these acquisitions - especially the acquisition of the Citiguard group, which was acquired for R34,6m." Partridge, however, did not rule out the possibility of further acquisitions "if the right offers present themselves".

All the recently acquired companies will trade under the Secureco KwaZulu-Natal banner.

For further details contact Secureco on tel: (012) 800 1121.

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