UAE – Mubasher: Dubai-based Farnek, leading technology and sustainability-driven facilities management company, has completed the acquisition of Certis Guarding Services.
Through the acquisition, Farnek will integrate 1,800 staff employed by Singapore-headquartered Certis, one of the top ten companies in the UAE’s security services sector, according to a press release on Sunday.
Meanwhile, the Certis trademark will be rebranded as Farnek, and its staff will move from Certis’ offices to Farnek’s head offices in Dubai and Abu Dhabi.
Commenting on the acquisition, the CEO of Farnek, Markus Oberlin, said: “We estimate that there will be increased demand for commercial security, particularly manned security detail, over the next four to five years, throughout the UAE.”
Oberlin added: “to become a major player in the UAE security services market, we needed a substantial presence, to compete for major contracts that require substantial manpower which on occasions can come with short term mobilisation. Acquiring Certis now affords us that presence and flexibility, as well as a competent and experienced security workforce.”
It is noteworthy to mention that the commercial security market in the Middle East is forecast to record a compound annual growth rate (CAGR) of 16.5% to $5.6 billion by 2022, according to recent data by Frost & Sullivan.
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