• Turki Bin Matooq Al Thonayan: The deal embodies our ambitious expansion plans.
  • The acquisition agreement enhances SAFE’s services portfolio in local and regional markets by providing services for the transit of cash and valuable goods.

Riyadh - Saudi Arabia - The National Security Services Company (SAFE), which leads the transformation of the local security services sector, has signed an acquisition agreement to acquire ABANA Enterprises Group Company’s assets connected to the transit of cash and valuable goods. ABANA Enterprises Group Company is at the forefront of providing such services in the Kingdom. This step affirms SAFE’s ambitious approach aimed at providing a full range of specialized services to its customers in the Kingdom and GCC countries.

The signing ceremony was held in Riyadh, Saudi Arabia in the presence of SAFE and ABANA Board of Directors. The two parties are currently working on the transfer of the acquired assets and operations to SAFE, and expect this to be finalized by the end of May.

“The acquisition of ABANA Enterprises Group Company’s assets connected to the transit of cash and valuable goods will help SAFE achieve its primary goal of providing the most advanced security solutions and services for customers, while continuing our commitment as an active company within the banking sector and continue our contribution   to the kingdom’s  Vision 2030.” Turki Bin Matooq Al Thonayan, SAFE’s CEO commented.

Founded in 1977, ABANA is proud of its wide base of partnerships with many leading businesses in the Kingdom, including many elite national banks to help them achieve operational efficiencies. It relies on professional institutional values that drive all its operations and reliable services to continue its successful journey. Through its customer-centric approach, it provides them with fully compatible services to meet their requirements and needs.

About The National Security Services Company (SAFE)

The National Security Services Company (SAFE), was established in 2019 to meet a crucial need in the local security sector for a premium player with quality, integrated and specialized security offerings, which will elevate the standards and image of the security sector in the Kingdom, and diversify the economy and enable new sectors to contribute in the realization of the Kingdom's Vision 2030.

SAFE's business model, organizational structure and above all, the culture, is customer centric and influence all we do, from our professional work to our community support programs. This unrivalled spirit and strong leadership have been the cornerstones of our success and have helped us grow across the country, encompassing diverse business segments, within a short span of time, despite the ongoing pandemic and related challenges to trade and industry.

It has successful relations with more than 15 partners and concluded many agreements with more than 42 clients to provide security solutions services to 9 different sectors over the past three years since its inception. SAFE had extended its services to FIFA World Cup Qatar 2022, Formula 1 and the Saudi Games as a security partner. The company has also expanded in the Gulf region and plans to provide its services in many other countries. For more information, visit: https://safesecurity.sa