Acquisitions And Mergers Are Important Factors In Growing The Quantity Of Employees At British Columbia’s Security Firms
Since 2014, mergers and acquisitions have increased employees at some of top security firms by more than 50% at least. Even last year, two of the biggest security companies in British Columbia namely commissionaires and Paladin Security grew as a result of acquisitions and mergers. In March 2016, Concord Security Corporation was acquired by Paladin Security. The later was ranked 4th in terms of the number of employees it employed. A total of 1350 employees worked for Concord Security Corporation. As a result of this acquisition, Paladin’s total employee count increased by a staggering 46.9 percent. In 2017 before the merger, Paladin security had a total work force of 2,650. After its merger with Concord Security Corp, Paladins total head count increased to 3,893.
Over the past 1 year, Paladin Security added approximately 1,243 British Colombia employees. This, however is 8% lesser than those employed by Concord Security Corp. Earlier in 2014, two of Vancouver’s island security firms were acquired by Commissionaires. These included CoVal Security and Royal Victoria Security. Since the acquisition, Commissionaires provincial employment has risen to 2,130 in 2018 from 1,320 back in 2014. This is a 61.4% increase.
Despite an increase in the employee enrollment from two of the biggest security companies in British Columbia, other companies in the same province have had little or no impact on provincial employment. Compared to 2017, this year the median employee growth rate was 0.7 percent for leading 20 security companies in British Columbia. Meanwhile, Houle Electric Ltd reported the biggest 1 year decline in employment rate. Houle Electric’s provincial employment reach 874 in 2018. This is 8.8% less than its provincial employment rate of 958 last year.
Paladin Security by far has had the highestprovincial employment growth in the last 5 years. The company’s staff base in British Colombia has grown by a staggering 81 % since 2014. It seems that Mergers and Acquisitions have truly resulted in increase of workforce for the top British Colombia’s security firms.