The Competition Authority of Kenya (CAK) has approved the acquisition of KK Security Limited by Canadian entrepreneur and philanthropist Stephan Crétier.
According to the CAK, the transaction will not adversely affect competition in the market for private security and facility management services in Kenya.
Stephan Crétier, the CEO of GardaWorld, will acquire more than 50% of KK Security Limited’s shares, converting the company’s ownership from joint to sole control.
This transition aims to attract new investors and strengthen the company’s operations. Crétier currently has indirect joint control of the company through Doctor No Parent Limited, a firm incorporated in Canada that operates in Kenya under the GardaWorld brand.
KK Security Limited provides various services, including manned security guarding, canine security, VIP protection, and cash-in-transit services.
It also manages facilities by offering services such as building maintenance, pest control, cleaning, repairs, and gardening. The CAK emphasized that the acquisition would maintain a fair competitive environment while allowing for the firm’s continued growth and investment opportunities.
