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Which companies is Prosegur buying?


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Integral service around a transaction
BY : Diego GutiérrezJanuary Wed, 2019

The Prosegur security company is very active in purchase of companies. Three of its last four acquisitions were confirmed in December 2018, within less than a week of each other. Below are the transactions that have been taking place in the Spanish company.

Prosegur and its latest acquisitions

Prosegur is a company of global security services founded in Madrid in 1976, became the first Spanish security company to be listed on the Madrid Stock Exchange in 1987 and is the third largest private security company in the world.

The company has four business units: integrated security systems (SIS), cash in transit and cash management, alarms and cyber security.

Its wide range of business units means that the company is obliged to continually update itself and not let opportunities in the sector pass it by. As you will see below, Prosegur has recently been buying companies in different activities. We, as experts in corporate financewe explain them to you:

 

Cipher

Cipherfounded in 2000, offers a wide range of managed security and consulting services. We are talking about one of the largest cybersecurity companies in Brazil and which also has a presence in the UK and Florida.

On 10 December, the approval for Prosegur's purchase of Cipher was announced. The amounts of the operation are unknown, but we know that the purchase consisted of a majority shareholding of more than 60% of Cipher.

Alejandro Alonso, CEO of Prosegur, explained: "the purchase of Cipher gives us access to one of the markets, Brazil, with the highest growth rate, complementing our geographical presence in the region. Cybersecurity is a business with a global turnover of 100 billion euros.and which is registering growth of up to 15% per year and it should be borne in mind that, in Latin America, Brazil and Argentina together account for 60% of the total," he added.

Scout Security

Prosegur did not rest after the acquisition of Cipher and the next day we learned of another operation of the group. Prosegur Global Alarms Row, a Spanish company controlled by Prosegur, has become a shareholder in the Australian company Scout Security. through an investment of approximately 2.9 million Australian dollars.

Scout Securitybased in Sydney, is a provider of security-related services.

The transaction has been structured through the subscription of a capital increase of the Australian company. In addition, Prosegur has acquired 16,005,508 options over Scout Security shares, which can be exercised before 31 December 2019 at a price per share of $0.28. If all options were exercised, Prosegur's total investment in Scout Security would be approximately A$7.4 million.

 

Dopar Group, Enclama and Iberprofin

A couple of days later we learned of a triple takeover of companies. Prosegur AvosProsegur Cash, a company controlled by Prosegur Cash, acquired the Spanish companies Grupo Dopar, Enclama and Iberprofin.

The three companies are partnerships specialised in logistics and document management and were part of Ibercaja. The transaction consists of a long-term alliance with Prosegur Cash following the sale of these companies.

Both the 62 workers that make up its workforce and the offices are integrated into the structure of Prosegur Avos, creating a new centre in Zaragoza, which will be added to those it already has in Madrid, La Coruña, Vigo and Palma de Mallorca.

 

Risk Management Solutions and CompliOfficer

Finally, and somewhat prior to the latest acquisitions, Prosegur Avos acquired the Madrid companies Risk Management Solutions and CompliOfficer. In neither case were the amounts of the operations made official.

Risk Management Solutions is a company dedicated to the development and commercialisation of AMLcheck, a specialised software for the prevention of money laundering and terrorist financing (AML software). With its specialisation it has become the first RegTech Spanish.

For its part, CompliOfficer is dedicated to Corporate Compliancespecialising in the current regulations on the Prevention of Money Laundering and Terrorist Financing (PBC-FT).

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