SPECTRAGUARD SEALS DEAL WITH ALLIED SECURITY TO CREATE NATION’S 4th-LARGEST U.S. SECURITY FIRM
KING OF PRUSSIA, Pa.
SpectraGuard has announced that it has finalized the acquisition of Allied Security, a national security firm headquartered in Pittsburgh, creating Allied-SpectraGuard, the largest privately held security services firm in the United States. The new company had combined revenues of $378 million in 1999, has 16,000 employees and a network of 47 offices serving major U.S. markets. The acquisition marks a continued consolidation of the largest companies in the $16 billion U.S. security services industry. Allied-SpectraGuard places fourth on the list of the top security firms in the nation, of which the top 10 account for 33 percent of the total U.S. market share. In contrast, the rest of the industry is highly fragmented, consisting of an estimated 8,500 to 11,000 privately held operations with average annual revenues of $600,000.
“SpectraGuard’s strength lies in the largest East-Coast markets, but now, with the acquisition of Allied, we will have national reach,” says Al Berger, CEO of Allied-SpectraGuard. “We have created an agile company designed for growth and gaining market share with core competencies in unparalleled service, advanced security technology and the best business practices in recruiting, training and retaining of security personnel.” In addition to security personnel, Allied-SpectraGuard provides electronic protection systems, alarms, access systems, security communications systems, and remote surveillance.
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