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INVERSIONES VALENCIA CAPITAL RIESGO SELLS TO SECURITAS ITS STAKE IN CHILLIDA.
Banco de Valencia, through Inversiones Valencia Capital Riesgo has sold 40.2% held in the security Valencian group Chillida to the multinational Securitas, which acquired 100% of the Valencian company in a deal that values Chillida at €23.3 million. The remaining capital and management was held by Ávila family. The sale has received the approval of FROB, manager of the commercial institution since November.
Chillida, with presence in Spain and with 200 employees located primarily in Valencia and Madrid, turnover €30 million and recorded a €1.35 million loss in 2011.
For Securitas, the acquisition will enable to add their technology products, and a stable customer base in the banking, retail, industry, public administration and the residential segment. The group considers that its services will be complemented with the monitoring technological developments and alarm control of Chillida.
The Valencia-based company acquired in 2008 the Spanish subsidiary of Siemens, a technology firm dedicated to building security. To support these growth plans the family company admitted the VC/PE subsidiary of Banco de Valencia in 2009.