Allied Universal acquires Covenant Security Services
By Canadian SecurityNews Industry News
Allied Universal has acquired Covenant Security Services Ltd., a Philadelphia-based security firm and a division of Covenant Services Worldwide. Terms of the deal were not disclosed.
“Adding such a well-established company like Covenant Security to our organization fulfills one of our strategic goals,” said Steve Jones, Allied Universal CEO. “Covenant Security is a demonstrated leader in several vertical markets and has great leadership. That combination made it a perfect fit for our long-term expansion plans. The additional resources and services we will now have in several vertical markets is paramount to why we completed this deal.”
Covenant Security adds vertical segments to Allied Universal’s clientele base, such as commercial real estate, defense and aerospace, and manufacturing and utilities. The largest of the segments is chemical and petrochemical, in which Covenant has been a regional provider of guarding services since 1992.
With 1,900 employees and a presence throughout the U.S., Covenant represents $80 million in annual revenue, with a cross section of major national clients and government accounts, the company says.
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