News

Sicurglobal SpA ["Sicurglobal"], the leading provider in the Italian security service market, owned by pan-European private equity firm Stirling Square Capital Partners ["Stirling Square"], announces that it has acquired Mega Italia SpA ["MegaItalia"], Italy’s leading player in electronic security systems and associated technological services. The transaction complements Sicurglobal’s existing security services, which largely comprise the provision of armed guards.

Established in 1974 in Brescia (Italy), MegaItalia operates in the area of design, realization, and selling of multifunctional and integrated safety systems for the protection of people and assets. MegaItalia provides multifunctional and integrated security systems in Italy through 6 local branches and a network of 59 franchisees. Its products and services include alarm systems (anti-theft alarms, gas alarms, fire alarms, burglar alarms, etc.), control systems (building automation, alarm control centers, access control, money handling, etc.), video surveillance systems (CCTV, etc.) and 24-hour maintenance and assistance.

The deal is another major strategic step forward for Sicurglobal, which with the acquisition of MegaItalia will be able to offer comprehensive security service to the Italian market. The combined pro forma turnover is approximately €200 million.

As part of the agreement the shareholders of MegaItalia will become minority shareholders of Sicurglobal, and its management team will be integrated with that of Sicurglobal.

Francesco Simonelli, CEO at Sicurglobal, said:

"This is an important move for Sicurglobal as it cements our position as the market leaders. MegaItalia will give the business a broader range of integrated services for our customers. We are enthusiastic about the prospects for the combined business with its differentiated, high value -added, service offering and welcome MegaItalia’s outstanding and proven management team to contribute to our successful business formula."

Ivo Benedetti, CEO at MegaItalia, said:

"The owners and senior managers of MegaItalia were keen to identify an appropriate partner for our future growth, and in Sicurglobal we have found a business with fantastic synergies with our own company and a shared belief in the prospects for the combined group. Much of the proceeds from the sale have been reinvested in the equity of the newly enlarged company as we are keen to share in the success story ahead, alongside Stirling Square and the Sicurglobal management team."
Stefano Bonfiglio, partner at Stirling Square, said:

"We are delighted to have completed this acquisition in what has been a very difficult buy-out market. The deal underlines our strength in Italy and shows that we have the skills to take advantage of the right opportunities despite the obvious challenges the current environment presents."

Stirling Square has also backed the buyouts of three other Italian companies; Metroweb, Jeckerson and Microtecnica.

Legal advisers to Sicurglobal were Pavia e Ansaldo, and Ashurst.

Stirling Square Capital Partners [“Stirling Square”], the pan-European private equity firm, today announces that it has signed an agreement to acquire Sicurglobal, the largest player in the Italian security service market, from BS Private Equity. The transaction value is not disclosed.

Sicurglobal, which is headquartered in Milan, is the combination of several local operators, some of which have been active in the Italian security services market for up to 90 years. Sicurglobal currently operates in 21 provinces in Italy’s Northern and Central regions, deploying over 2,600 armed guards, 700 vehicles and 23 monitoring centres.

The company’s activities encompass a wide range of surveillance services, which are grouped into three areas: patrolling and alarm monitoring, guarding, and cash handling. The Group recently widened its service scope into complementary, high value-added services such as satellite telesecurity and security systems integration and consulting.

Sicurglobal has a diversified customer base accounting for more than 75,000 customers or 100,000 users, ranging from residential customers to large businesses such as corporations, banks and public administration organisations. The company reported a consolidated turnover of EUR 165m in 2007 and has a strong track record in successful acquisitions.

Stirling Square will support the existing management team led by CEO Francesco Simonelli in consolidating Sicurglobal’s market leading position and driving further growth. Sicurglobal is highly representative of Stirling Square’s investment strategy which is to target companies that offer potential for further operational improvement and market consolidation through acquisitions.

The acquisition follows Stirling Square’s string of successful pan-European, complex mid-market transactions, including the investment and subsequent sale of Global Design Technologies in May 2007 for $343m, and the sale of Schoeller Arca Systems for €428m in July 2007. The sale of GDT was named ‘France and Benelux Deal of the Year’ at the EVCA Private Equity Awards held in Barcelona in December 2007.

Stefano Bonfiglio, who coordinated the investment on behalf of Stirling Square Capital Partners, said:


“We are delighted to partner with Sicurglobal, a leading company in its market which has seen rapid growth and consistently delivered one of the highest profit margins in the sector. We have been particularly impressed by the quality of Sicurglobal’s management and their ability to adapt quickly to market and client needs, which are essential components for long-term success in this industry. This acquisition highlights one of Stirling Square’s key investment strategies of building growth through market consolidation and operational expansion”.


Francesco Simonelli, CEO of Sicurglobal, said:

“With Stirling Square’s active support, Sicurglobal’s management team will continue to expand successfully in its markets. This acquisition comes at a time of extensive opportunities due to recent regulatory changes and high pent up demand for security services”.

Stirling Square Capital Partners [“Stirling Square”], la società pan europea di private equity, ha oggi annunciato di aver siglato un accordo per l’acquisizione da BS Private Equity di Sicurglobal, la società leader in Italia nella fornitura di servizi integrati di sicurezza e vigilanza. Il valore della transazione non è stato reso noto.

Sicurglobal, con sede a Milano, è nata dall’unione di diversi operatori locali, alcuni dei quali sono attivi nel settore italiano dei servizi di sicurezza e vigilanza da 90 anni. Sicurglobal attualmente opera in 21 province dell’Italia settentrionale e centrale, avendo a disposizione oltre 2600 guardie armate, 700 veicoli e 22 centri di monitoraggio.

Le attività della società comprendono un’ampia gamma di servizi di sorveglianza suddivisi in tre aree: pattugliamento e monitoraggio allarmi, piantonamento e trasporto valori. Il gruppo ha recentemente ampliato i propri servizi aggiungendo servizi complementari ad alto valore aggiunto quali tele-sicurezza satellitare e servizi di sicurezza integrati e di consulenza.

Sicurglobal gestisce una clientela diversificata di oltre 75.000 clienti o 100.000 utenti, comprendendo sia clienti privati sia clienti business come grandi aziende, banche ed enti pubblici. La società ha dichiarato un fatturato consolidato di 165 milioni di Euro nel 2007 e ha portato a termine una serie di acquisizioni di successo.

Stirling Square affiancherà il management attuale guidato dall’Amministratore Delegato Francesco Simonelli al fine di consolidare la posizione di leader di settore di Sicurglobal e di favorire un’ulteriore crescita. Sicurglobal si colloca perfettamente nella strategia di SSCP, la quale si focalizza su società che possono beneficiare sia da un miglioramento operativo sia da un consolidamento del settore.

L’acquisizione segue una serie di transazioni complesse di successo nel mid-market pan europeo, incluse l’acquisizione e la successiva vendita di Global Design Technologies a maggio 2007 per un corrispettivo di 343 milioni di Dollari e la vendita di Schoeller Arca Systems per 428 milioni di Euro a luglio 2007. La vendita di GDT è stata nominata “France and Benelux Deal of the Year” al EVCA Private Equity Awards tenutosi a Barcellona a dicembre 2007.

Stefano Bonfiglio, che ha coordinato l’investimento per conto di Stirling Square Capital Partners, ha dichiarato:

«Siamo soddisfatti di essere diventati partner di Sicurglobal, una società leader nel suo mercato che ha visto una rapida crescita e ha costantemente ottenuto tra i più alti margini di profitto del settore. Siamo rimasti particolarmente colpiti dalla qualità del management di Sicurglobal e dalla loro abilità nell’adattarsi rapidamente al mercato e ai bisogni del cliente, elementi essenziali per il successo a lungo termine in questo settore. Questa acquisizione evidenzia una delle strategie di investimento chiave di Stirling Square che vuol creare valore attraverso l’espansione operativa e il consolidamento di mercato».

Francesco Simonelli, Amministratore Delegato di Sicurglobal, ha dichiarato:

«Con il supporto attivo di Stirling Square, il management di Sicurglobal continuerà ad espandersi con successo nel proprio settore. Questa acquisizione arriva in un momento di grandi opportunità grazie ai recenti cambiamenti normativi e alla domanda latente di servizi di sicurezza».