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Securitas Acquires Lincoln Security

California

The purchase of the Cerritos company expands the Swedish giant's presence at the ports of Los Angeles and Long Beach.

April 02, 2003|Hanah Cho | Times Staff Writer

Securitas, the world's biggest security services firm, is getting even bigger in California.

The Swedish company, which owns Pinkerton's Inc., said Tuesday that it bought Cerritos-based Lincoln Security Services Inc. for $13.7 million in cash in a move to expand its services in the region to include the ports of Los Angeles and Long Beach.

Privately held Lincoln Security touts itself as the largest provider of security guards and security systems at the harbor. The company, which also does business elsewhere in California and in Oregon and Nevada, reported sales of $27 million in 2002.

Representatives of Lincoln Security were unavailable for comment.

Securitas, through its Westlake Village-based Pinkerton's division, already does business with several companies at the Los Angeles and Long Beach ports.

Nonetheless, the company said the acquisition of Lincoln Security should help it boost its commercial client base.

"Now, having a large, significant operation in the ports allows us to continue to provide extensive service throughout the entire logistics supply line from shipping to distribution," said Tony Sabatino, Pinkerton's vice president for Los Angeles County.

Securitas has been expanding into the U.S. market since 1999, when it bought the famed Pinkerton's agency, which once guarded Abraham Lincoln and hunted down famed outlaws Butch Cassidy and Jesse James. In 2000, it acquired Burns International Services Corp. along with other U.S. security companies.

Securitas, which provides security guards, alarm systems and cash transportation services in 30 countries, had sales of $6.5 billion in 2002 and employs 235,000 people worldwide.

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