First Coast Security Acquired by ICTS Europe, Strengthens US Foothold

Deal News | Nov 11, 2024 | Globenewswire

First Coast Security Acquired by ICTS Europe, Strengthens US Foothold

First Coast Security (FCS), a Jacksonville, Florida-based provider of security services, has been acquired by ICTS Europe, a leading global security solutions provider based in Roissy-En-France, France, under Groupe Sofinord. The acquisition positions FCS as the North American corporate security unit for ICTS Europe, amplifying the group's presence in the US. The deal ensures continuity for FCS clients and staff while providing access to ICTS Europe's global resources. According to ICTS Europe’s CEO Oren Sapir and FCS’s CEO Tim Frank, the cultural and strategic alignment of the two companies promises new business opportunities, maintaining the existing high-quality service level. FCS will continue operating as before, with the current leadership intact, including the ongoing support from founder E. Bland Cologne. Security ProAdvisors LLC represented FCS in the transaction, but terms of the deal were not disclosed.

Sectors

  • Security Services
  • Mergers and Acquisitions

Geography

  • United States – First Coast Security is based in Jacksonville, Florida, and the acquisition strengthens ICTS Europe's presence in the US market.
  • France – ICTS Europe is headquartered in Roissy-En-France, with ownership through Paris-based Groupe Sofinord, highlighting the French connection.

Industry

  • Security Services – First Coast Security provides security services, and its integration with ICTS Europe, which also operates in the security solutions sector, is central to the article.
  • Mergers and Acquisitions – The article discusses the acquisition of First Coast Security by ICTS Europe, highlighting the importance of this industry classification.

Financials

  • Not Disclosed – The terms of the acquisition between First Coast Security and ICTS Europe.

Participants

NameRoleTypeDescription
First Coast Security (FCS)TargetCompanyA Jacksonville-based provider of security services, now the North American division of ICTS Europe.
ICTS EuropeBidding Company/BuyerCompanyA global security solutions leader headquartered in France, acquiring FCS to enhance its US operations.
Groupe SofinordOwnerCompanyParis-based company owning ICTS Europe, linking the acquisition to a broader corporate group.
Security ProAdvisors LLCCorporate Finance AdvisorCompanyBrokerage, advisory and consulting firm representing FCS in the acquisition deal.
Oren SapirPresident and CEOPersonPresident and CEO of ICTS Europe, involved in overseeing the acquisition.
Tim FrankCEOPersonCEO of First Coast Security, responsible for maintaining company operations post-acquisition.
E. Bland CologneFounderPersonFounder of First Coast Security, who will continue to support the business following its acquisition.
Keith OringerFounderPersonFounder of Security ProAdvisors, the corporate finance advisor in the transaction.