SERVICES group CSG Holdings, which has PSG Private Equity as a shareholder of reference, believes it will have a highly profitable security cluster when turnover for this initiative reaches R200m a year.CSG has recently tilted at smaller security firms, acquiring the monitoring and guarding business of 7 Arrows with the security installation and maintenance business of Cubed Systems in March. More recently, CSG acquired security group Recall Security.Speaking at the release of year-to-end-March financials on Wednesday, CSG CEO Pieter Dry said turnover in the security cluster was about R40m, but noted there were numerous opportunities in the fragmented domestic security sector."We think our security operations could snowball this year, which will be good for profitability, as these businesses tend to grow at 20%-30% a year and trade on high margins."CSG might look for opportunities in companies servicing the depressed mining and construction sectors, he said. "If we take a longer-ter...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.