- Canadian entrepreneur Stephan Crétier, CEO of GardaWorld, has acquired over 50% of KK Security Limited.
- The Communication Authority of Kenya (CAK) approved the transaction, citing no adverse impact on market competition.
- The acquisition shifts KK Security’s ownership to sole control under Crétier.
- KK Security offers services like manned guarding, VIP protection, and facility management.
The Communication Authority of Kenya (CAK) has approved the acquisition of a majority stake in KK Security Limited by Stephan Crétier, a Canadian entrepreneur and philanthropist. Crétier, who is also the CEO of GardaWorld, now assumes sole control of the Kenyan private security firm.
Details of the Acquisition
Stephan Crétier will acquire more than 50% of KK Security Limited’s shares, transitioning the company from joint to sole ownership. Before the acquisition, Crétier indirectly held joint control through Doctor No Parent Limited, a Canadian firm operating in Kenya under the GardaWorld brand.
The CAK stated that the transaction does not disrupt fair competition in the market and provides an opportunity for KK Security to grow and attract further investment.
KK Security’s Services
KK Security Limited is a leading provider of private security and facility management services in Kenya. Its offerings include:
Security Services: Manned guarding, canine security, VIP protection, and cash-in-transit services.
Facility Management: Building maintenance, pest control, cleaning, repairs, and gardening.
Impact on the Market
The CAK emphasized that the acquisition would not harm competition within the private security and facility management sectors. Instead, it is expected to bolster KK Security’s operations and attract new investments, ensuring continued growth.
Stephan Crétier’s acquisition of KK Security Limited marks a significant step in the firm’s evolution. With CAK’s approval, the company is set to strengthen its position in Kenya’s private security market while maintaining fair competition and expanding its investment potential.
