News

5 Jan 2012

DLA Piper advises Prosegur on the acquisition of SecurLog

Press Release

DLA Piper has been advising the security logistics specialist Prosegur on the complete takeover of SecurLog. As a result, the Spanish company has not only secured itself access to the 31 national branch offices of the German market leader in the transport of money and valuables but also a leading position in Europe. The transaction has a total volume of 22.7 million euros.

With its turnover in excess of €2.5bn and 107,000 employees, Prosegur is listed on the stock exchange and is one of the world’s largest security service providers. The Group founded in 1976 currently has 45,000 employees working for its European subsidiaries in Spain, France, Germany, Portugal and Romania.

The Düsseldorf-based company SecurLog with a last-reported turnover of €145m and 3,200 employees dominates the German market for the transport of money and valuables. It was formed five years ago as a spin-off from the bankruptcy assets of the predecessor company Heros and sold in equal shares to the investment bank Goldman Sachs and the American financial investor Matlin Patterson. The transport services provider is now being integrated into the structures of the Spanish Group and will in future operate under the name of Prosegur Deutschland.

The team from DLA Piper consisted of the partners Dr Christoph Papenheim (overall management, Corporate) and Dr Jens Kirchner (Employment), counsel Dr Fabian Hinrichs (Real Estate) together with the associates Sven Friedrich (Corporate) and Dr Sascha Morgenroth (Employment), all of whom are based in Frankfurt.