Allied Universal to Acquire SOS Security Services From Private Equity Firm
Edward Silverman, CEO and founder of SOS Security, will serve as co-chairman of the executive committee and an advisor to the board of directors.
Terms of the transaction were not disclosed.
Following the merger, Edward Silverman, CEO and founder of SOS Security, will serve as co-chairman of the executive committee and an advisor to the board of directors, bringing his vision of scalable boutique security service to Allied Universal, according to the announcement.
“I am thrilled to welcome Edward Silverman — one of the most highly regarded leaders of the security industry — and the SOS Security team to the Allied Universal family,” states Steve Jones, CEO of Allied Universal. “Like Allied Universal, SOS Security has built a renowned and respected brand of security services. Now, working together, we will be able to combine the best of both brands to elevate security services, the breadth and reach of capabilities and opportunity to provide new security solutions.”
Established in 1969, SOS Security brings a complementary and scalable approach to security services to Allied Universal, according to the announcement. With offices in five countries, SOS Security’s 15,000 employees work around the world providing safety, security, executive protection, intelligence, consultancy and advisory services.
In 2018, SOS Security personnel performed more than 2,000 assignments in over 100 countries through its subsidiary, AS Solution. The company has among the highest retention rates in the industry with respect to customers and security personnel, the announcement states.
The joining of Allied Universal and SOS Security establishes the company as a differentiated service provider in the global security industry, the announcement states. Following completion of the acquisition, Allied Universal will employ a combined staff of more than 230,000 security professionals.
“Delivering personalized services, whether operating under a billion [dollars] or at $10 billion, has always been my mission,” says Silverman. “As part of Allied Universal, and with shared values and purpose, we have a remarkable opportunity to bring specialized security services that reflect client priorities and attract the best resources and strategic partners to the industry.”
SOS Security Services, headquartered in Parsippany, N.J., is owned by Wendel, one of Europe’s leading listed investment firms. The company has market cap of $6 billion.
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