Buyout giants vie for Securitas Direct: sources

LONDON Wed May 11, 2011 12:55pm EDT

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LONDON (Reuters) - Major private equity firms, including The Carlyle Group CYL.UL, Blackstone Group (BX.N), and Bain Capital, are vying for Securitas Direct, the $3 billion-plus alarm firm, people familiar with the matter said.

The trio are among at least seven buyout firms submitting indicative bids this week to EQT, the Swedish private equity firm backed by Sweden's Wallenberg family that took Securitas Direct private three years ago.

Four others -- BC Partners BCPRT.UL; Clayton, Dubilier & Rice; Hellman & Friedman; and Nordic Capital -- are also bidding, some of the people said. Stanley Black & Decker (SWK.N) may also bid, one of the people added.

All the private equity firms named as bidders either declined to comment or had no immediate comment. EQT, Securitas Direct and Stanley Black & Decker did not immediately respond to requests for comment.

EQT hopes Securitas Direct could fetch as much as 20 billion Swedish crowns ($3.22 billion), people familiar with the matter said in April. It claims a fifth of Europe's monitored alarm market, selling security systems to homes and businesses in nine European countries.

It made earnings before interest, tax, depreciation and amortization (EBITDA) of 1.32 billion crowns in 2009 on revenue of 5.49 billion.

EQT bought Securitas Direct three years ago for 10.1 billion Swedish crowns, two years after the unit was demerged from parent Securitas AB (SECUb.ST), the world's second-biggest security services firm.

(Additional reporting by Sven Nordenstam in Stockholm; Editing by Douwe Miedema and Mike Nesbit)

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