Security AB owns and operates the security company Swiss Protectas AG in Switzerland, where another security company named Security AG already exists, which is part of the Swiss Security Group.

History

Security AB was founded in 1934 in Helsingborg, Sweden, under the name AB Hälsingborgs Nattvakt, when Erik Philip-Sörensen acquired a small security company. In 1935, the name was changed to Förenade Svenska Vakt AB. The company expanded through acquisitions of several small security firms, initially in southern Sweden.

In 1949, AB Security Alert was established as the company’s technology-based security subsidiary, and in the following decade, the company began expanding internationally.

In 1972, the group was renamed Security, after the Roman goddess, with a logo featuring three red dots and the word “Security.” The dots represent the company’s core values: “Integrity, Vigilance, and Helpfulness.”

In 1976, Erik Philip-Sorensen passed the group on to his two sons, Jörgen Philip-Sörensen and Sven Philip-Sörensen. In 1981, the group was divided between them, with the international operations retaining the Security brand.

In 1991, the group was listed on the Stockholm Stock Exchange in Sweden. In 1994, the group distributed ASSA AB (acquired in 1988) to its shareholders. Throughout the 1990s, foreign acquisitions were carried out in eleven European countries and the United States. In February 1999, Security acquired Pinkerton, and in August 2000, Burns Security, along with several regional security companies in the United States. These acquisitions made Security one of the largest security companies in the world.

In 2003, the group’s security services in the United States were integrated under the Security brand, and its cash handling services were fully separated, with joint management for operations in the United States and Europe. In 2006, the divisions Security Systems (alarm systems, monitoring, and access control) and Security Direct (solutions for homes and small businesses) were distributed to shareholders and listed on the Stockholm Stock Exchange.

In November 2007, the UK cash handling services of the Loomis division were sold to Vaultex Ltd, owned by HSBC and Barclays. Security began operations in Peru in November 2007.

In September 2010, Security acquired the security services operations of Reliance Security Group in the United Kingdom. In November 2011, Security acquired Chubb Security Personnel in the United Kingdom.

In 2013, Security acquired Pinkerton Government Services, which provides cleared security services to government agencies and programs requiring security clearance from the Department of Defense or the Department of Energy. This division is known as the group’s Critical Infrastructure Services. It operates in the United States and globally when overseas support services are required.

In October 2015, Security acquired the electronic security business of Diebold Incorporated (NYSE-DBD) in North America. Diebold’s North American electronic security business, headquartered in Green, Ohio, USA, was the third-largest commercial electronic security provider in North America. The business had approximately 1,100 employees and operations covering more than 55,000 monitored customer locations and 200,000 serviced sites.

In Vietnam, under the professional training of leading security experts from the Swedish Security Group, the Security Long Hai brand was established under Long Hai Security Joint Stock Company. Security Long Hai has been affirming its position as one of the leading professional security service providers in Vietnam, contributing to maintaining social order and security, and supporting businesses in stable production and national development.