Allied Universal Acquires Covenant Security Services
The 1,900-employee firm is the 7th acquisition for Allied Universal since AlliedBarton Security Services and Universal Services of America combined in 2016.
Allied Universal has acquired Philadelphia-based Covenant Security Services for undisclosed terms.
SANTA ANA, Calif. — Allied Universal, the largest private security force in North America with more 150,000 employees, has acquired Covenant Security Services, a unit of Covenant Services Worldwide.
Terms of the transaction were not disclosed.
Covenant Security, based in Philadelphia, is said to generate about $80 million in annual revenue and has 1,900 employees. The company’s portfolio includes major national clients and government accounts., according to announcement.
“Adding such a well-established company like Covenant Security to our organization fulfills one of our strategic goals,” says Allied Universal CEO Steve Jones. “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.”
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Covenant Security adds vertical segments to Allied Universal’s clientele base, such as commercial real estate, defense and aerospace, manufacturing and utilities. The largest of the segments is chemical and petrochemical, in which the company has been a leading regional provider of guarding services since 1992, according to the announcement.
“This partnership presents an opportunity for Covenant’s clients to continue to receive high levels of customer service while at the same time gain access to a vast network, notable innovations, technology, and reputable management team,” says Gregory Iannuzzi, president of Covenant Security.
The transaction marks Allied Universal’s 7th acquisition since its formation in 2016 with combining of AlliedBarton Security Services and Universal Services of America in 2016.
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