Estonia, Legislation, Markets and Companies, Mergers and take-overs, Security
International Internet Magazine. Baltic States news & analytics
Wednesday, 18.12.2024, 23:49
Estonian security services company USS considers taking over 3 firms
Print version |
|---|
USS's manager Sven Nuutmann said that negotiations are not yet held with any of the companies but it is planned. He added that the possible takeover will take place next year.
In the first nine months of this year, USS boosted turnover by 161% to 8.4 million euros and the number of employees from 490 to 1,200. Nuutmann said that while last year, USS was in loss, now it is close to zero profit.
USS hopes to get a 25% market share at the guarding services market by the end of this year and 30% next year.
USS doesn't have specific plans on expanding outside Estonia. "But if a good offer comes from Latvia or Lithuania, we will certainly consider it," said Sõõrumaa.
USS was created around a year ago by merging K-Grupp and Pristis and this year has witnessed a row of serious battles between it and the largest security services company G4S over lucrative big contracts.
«The Baltic Course» Is Sold and Stays in Business!
