USS Security Eesti AS has obtained permission from the Estonian Competition Authority to merge with itself the rival security services company Alfastar Turvateenistuse AS.
Estonian watchdog clears USS Security for consolidation of Alfastar
20th April 2013, 14:31
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USS Security published a notice about its acquisition of all shares in Alfastar in mid-March.
After the completion of the merger USS Security employs about 1,600 people in Estonia and provides security at more than 16,000 sites, the company said.
Its said its market share in the Estonian guard services market is approximately one-third.
The CEO of USS Security Eesti, Sven Nuutmann, described the acquisition of Alfastar as a uniquely positive transaction, as in it two very well functioning companies were put together.
Nuutmann said that in parallel to the merger of the companies a major goal for USS Security this year was expanding its business in the provision of security services in retail. Besides, in mid-April, USS Security took over responsibility for all security services at Viru Keemia Grupp, Estonia's largest producer of shale oil and oil shale chemicals.
Nuutmann added that new acquisitions in 2013 were not ruled out.
USS Security Eesti AS is controlled by the Estonian entrepreneur Urmas Soorumaa.
In November 2012 USS Security said it would look for opportunities to consolidate the security services market and might acquire two or three companies in 2013.
Turvateenistus Alfastar was majority owned by Leonarda Invest, a company of Andrei Zukov.