Bildkälla: Stockfoto

Tempest Security: Going west to the world's largest security services market - SEB

Tempest just announced an expansion to the US due to increasing customer demand for qualified close protection services, which seems to have been accelerated by recent industry consolidation. The ambition is that the US will constitute a meaningful part of its 2025 revenue target of SEK 1bn and first assignments are expected to be signed in 2021. Although its difficult to assess the financial impact at this stage, we find it to be a very interesting move.

Tempest is currently building its own commercial and operational organization and has already made strategic recruitments of key personnel with long experience from the US protection industry. Among those recruitments is Kyle Faust, who has been appointed President of Tempest US operations. Mr Faust has previous experience from senior positions at AS Solutions and Allied Universal Security, as well as Director of Global Security Operations at Snap Inc. Recently, Tempest conducted a SEK 34m capital raise and they seem to be considering strategic acquisitions to further support its US expansion and gain access to key personnel and customer portfolios.

Finwire / Börsvärlden

Publicerad 04 May 2021, 11:56

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