Mergers and acquisitions a key factor in increasing the number of B.C. employees at top security firms
January, 30th 2018
Over the last year, two of the province’s largest security companies, Paladin Security and Commissionaires, grew even larger through mergers and acquisitions (M&A).
Last March, Paladin Security acquired Concord Security Corp., which ranked fourth in number of employees (1,350) on Business in Vancouver’s Biggest Security Companies in B.C. list in 2017.
The acquisition increased Paladin’s employee count 46.9% in one year: to 3,893 in 2018 from 2,650 in 2017.
Paladin Security added 1,243 B.C. employees over the past year, 8% fewer than were previously employed by Concord.
In 2014, Commissionaires acquired two Vancouver Island security firms, Royal Victoria Security and CoVal Security. Since then, Commissionaires has increased its provincial employment 61.4% to 2,130 in 2018 from 1,320 in 2014.
Aside from the two largest security companies that increased staff numbers via M&A, the province’s other major security companies have had relatively stagnant provincial employment. The median employee growth for the top 20 security companies in B.C. was 0.7% in 2018 compared with 2017.
The largest one-year drop in employment was reported by Houle Electric Ltd., where the company’s provincial employment fell 8.8% to 874 in 2018 from 958 in 2017.
Paladin Security has had the largest five-year provincial employment growth. Its B.C. staff base has increased 81% since 2014.