Security Services & Monitoring Switzerland: 6–9× EBITDA, 764 Firms (2026)

1.0Market Snapshot

764: Enterprises in private security services (NOGA 80.10, 605) and security systems services such as alarm monitoring (NOGA 80.20, 159) in 2024, BFS STATENT. Installers of security technology and locksmiths are classified elsewhere.
26,046: Employees in 2024 (18,593 full-time equivalents), BFS STATENT; 24,666 of them in guarding and patrol services. Many guards work part-time or by the hour.
+2.9%: Employment growth in 2024 (25,323 to 26,046), BFS STATENT. Employment has grown 12.3% since 2020 and 43% since 2011.
16,000+: Employees of the Swiss Securitas Group — Securitas AG, Securiton and other companies — in Switzerland and abroad; the group has bought ten Swiss firms since 2016.
53,000+: Alarm systems monitored by Certas, the alarm-receiving company of Siemens Schweiz and the Securitas Group, from three certified centres.

According to Val Index analysis of Swiss commercial-register and federal data (2026), Switzerland counts 764 security services & monitoring companies — Enterprises in private security services (NOGA 80.10, 605) and security systems services such as alarm monitoring (NOGA 80.20, 159) in 2024, BFS STATENT. Installers of security technology and locksmiths are classified elsewhere..

2.0Industry Overview

Market Scope

Private security in Switzerland covers guarding, patrols, event and traffic services, reception and alarm response. The BFS counts 764 enterprises with 26,046 employees in 2024 (STATENT): 605 guarding and patrol companies with 24,666 employees, and 159 security-systems service companies — mostly alarm monitoring — with 1,380. Employment has grown 43% since 2011 and 12.3% since 2020, faster than the economy. Only 20% of employees are women, and full-time equivalents are 71% of headcount: much of the work is part-time or hourly. The BFS does not publish the sector's revenue.

3.0Industry Health Check (SWOT)

Key opportunityCombining guards with technology

Internal factors

Strengths4

Growing demand: employment up 12.3% since 2020

Weaknesses4

Labour-intensive: personnel is by far the largest cost→ §5.0

External factors

Opportunities4

Combining guards with technology: alarm monitoring, video, robotics

Threats4

Wage increases that tenders do not pay for

Sector Outlook

DefensiveBalancedGrowth

4.0Key Trends

Consolidation by the Securitas Group

The Swiss Securitas Group bought Python Sécurité (Geneva, 2018), Juggers Sécurité and Etrinex (2019), ADSI Fonti (Geneva, 2020), ASP Agence Sécurité et Protection (Valais, 2025) and, in 2026, EGS Sécurité (Neuchâtel) and Alinag.

Collective agreement extended

The Federal Council extended the generally binding collective agreement for private security on 11 December 2025. It applies to companies with ten or more employees; hourly minimum wages rose 2% on 1 January 2026.

Steady employment growth

12.3%

Employment in guarding and security-systems services rose from 23,192 in 2020 to 26,046 in 2024 (+12.3%), BFS STATENT.

Guards plus technology

Providers combine guards with alarm-receiving centres and technology. Certas monitors more than 53,000 alarm systems; Securitas offers robotics as a service.

A long tail of small firms

More than 200 companies hold a security licence from the canton of Zurich (register of 23 September 2026). Many are small firms for events, traffic and site guarding.

5.0Cost Structure Benchmark

72%

Personnel72%: guards, supervisors, control room
Training, equipment and vehicles7%
Insurance and licences6%
Premises and administration7%
EBITDA margin8%

Indicative split for a Swiss guarding company, not a measured figure: no Swiss provider publishes its margins. Personnel dominates the cost base, so wage increases under the collective agreement flow straight into margins.

6.0Top Security Services & Monitoring Companies in Switzerland

Name	Location	Key Facts
Securitas AGCHE-106.832.531	Bern BE	Securitas AG Schweizerische Bewachungsgesellschaft: founded in Bern in 1907; the core of the independent Swiss Securitas Group (headquarters in Zollikofen), which has more than 16,000 employees. Not related to the Swedish Securitas AB.
ProtectasCHE-105.848.274	Lausanne VD	Protectas S.A.: founded in Lausanne in 1976 by Pierre Rochat; part of the Swedish Securitas AB group since 1992.
SecuritonCHE-105.949.308	Zollikofen BE	Securiton AG: security and alarm technology company of the Swiss Securitas Group, based in Zollikofen.
CertasCHE-106.010.374	Zürich ZH	Certas AG: alarm-receiving company of Siemens Schweiz and the Securitas Group; three certified centres, more than 53,000 alarm systems monitored and more than 160 employees.

Securitas AG

CHE-106.832.531

Bern BE

Securitas AG Schweizerische Bewachungsgesellschaft: founded in Bern in 1907; the core of the independent Swiss Securitas Group (headquarters in Zollikofen), which has more than 16,000 employees. Not related to the Swedish Securitas AB.

Protectas

CHE-105.848.274

Lausanne VD

Protectas S.A.: founded in Lausanne in 1976 by Pierre Rochat; part of the Swedish Securitas AB group since 1992.

Securiton

CHE-105.949.308

Zollikofen BE

Securiton AG: security and alarm technology company of the Swiss Securitas Group, based in Zollikofen.

Certas

CHE-106.010.374

Zürich ZH

Certas AG: alarm-receiving company of Siemens Schweiz and the Securitas Group; three certified centres, more than 53,000 alarm systems monitored and more than 160 employees.

Companies are listed when they are confirmed in the commercial register, have a significant Swiss presence in this niche and at least one sourced fact.

7.0Succession & M&A Context

National groups buy regional guarding firms

764: security enterprises in 2024 (BFS STATENT)
+12.3%: employment 2020–2024 (BFS STATENT)
200+: companies with a Zurich security licence (September 2026)
6.0–9.0×: EBITDA deal multiples (ValIndex multiples table)

Most of the 764 security companies are small and owner-run. Their buyers are the national groups — the Swiss Securitas Group alone has bought ten Swiss firms since 2016 — which want regional presence, licences, trained staff and client contracts. Value depends on contract duration and client spread; margins are thin and the collective agreement pushes wages up, so buyers look hard at whether contracts allow price increases. ValIndex's multiples table puts security services at 6.0–9.0× EBITDA in transactions and 4.5–6.5× on statutory valuations.

Market Pulse

Unlock full Security Services & Monitoring intelligence

Market trends, cost structure, key players, succession analysis and regional clusters for Security Services & Monitoring — free with Market Pulse, our monthly letter on Swiss deals.

Includes one letter a month on Swiss deals. Unsubscribe anytime.

Valuation Snapshot

Security Services & Monitoring business valuation in Switzerland

Statutory Multiple (EBITDA): 4.5 - 6.5×
Deal Multiple (EBITDA): 6.0 - 9.0×
Market Trend: Rising

Indicative ranges based on market research. Actual multiples vary by company size, growth, and market conditions.

8.0Regional Clusters

Bern and Solothurn

BESO

98 enterprises with 9,542 employees in 2024 (BFS STATENT, NOGA 80.10 and 80.20) — 37% of the sector. Bern's 9,229 employees largely reflect Securitas AG's national headcount, registered in Bern.

Western Switzerland

VDGEFRVSNEJU

219 enterprises — the most of any region — with 8,116 employees; Vaud (4,919) includes Protectas's headcount, Geneva has 1,839.

Zurich

142 enterprises with 2,672 employees; Certas and the family-run Wache AG are registered here.

Northwestern Switzerland

AGBLBS

80 enterprises with 2,256 employees; Basel-Stadt has 1,337.

Eastern Switzerland

SGTGGRSHARAIGL

81 enterprises with 1,786 employees.

Central Switzerland

LUSZZGOWURNW

78 enterprises with 994 employees.

Ticino

43 enterprises with 660 employees.

Sources

BFS STATENT — institutional units, employees and FTE by NOGA type and canton, 2011–2024 (NOGA 801000 private security, 802000 security systems services)Swiss Securitas Group — Die Securitas Gruppe (more than 16,000 employees; headquarters Zollikofen)Swiss Securitas Group — Meilensteine (founded 1907; acquisitions 2016–2026)Wikipedia — Securitas AG (independent of Securitas AB)Securitas AG — Über uns (services including robotics as a service)Protectas — Über uns (founded 1976 in Lausanne; Securitas AB since 1992)Certas — Profile (subsidiary of Siemens Schweiz and the Securitas Group; 53,000+ alarm systems)Syna — Private Sicherheitsdienstleistungsbranche: Verlängerung der Allgemeinverbindlicherklärung und höhere Mindestlöhne (19 December 2025)VSSU — Neue Allgemeinverbindlicherklärung des GAV für die private Sicherheitsbranche Canton of Zurich — Sicherheitsunternehmen mit Bewilligung des Kantons Zürich per 23. September 2026 Zefix — Swiss Central Business Name Index (register entries of all key players)

Alain Walder, M.A. HSG · ValIndex|Data as of 2026-09|11 sources cited

9.0Frequently Asked Questions

▶How much is a security services company worth in Switzerland?

ValIndex's multiples table puts Swiss security service companies at 6.0–9.0× EBITDA in transactions and 4.5–6.5× EBITDA on statutory valuations. Firms with long contracts, a broad client base and alarm-response or technology services sit at the upper end; small event or site-guarding firms dependent on the owner sit lower.

▶What drives the value of a Swiss security company?

Buyers price: (1) contract duration and renewal rates; (2) client spread; (3) licences and trained staff; (4) the ability to pass on wage increases; (5) technology such as alarm monitoring; (6) the owner's role in client relationships.

▶How big is the Swiss private security sector?

BFS STATENT counts 764 enterprises and 26,046 employees in private security and security-systems services in 2024 (18,593 full-time equivalents). Employment grew 2.9% in 2024 and 12.3% since 2020. The BFS does not publish the sector's revenue.

▶Who are the main security companies in Switzerland?

The largest are Securitas AG (Swiss Securitas Group, more than 16,000 employees), Protectas (part of the Swedish Securitas AB), Securiton (alarm technology, Securitas Group) and Certas (alarm receiving, Siemens Schweiz and Securitas Group). Below them are hundreds of smaller regional firms.

▶What are the key trends in Swiss private security?

Five trends: (1) consolidation by the Swiss Securitas Group; (2) the collective agreement was extended in December 2025 with 2% higher hourly minimum wages; (3) employment rose 12.3% from 2020 to 2024; (4) guards are combined with technology and alarm centres; (5) a long tail of small licensed firms.

▶What are the main risks when buying a Swiss security company?

The main risks are: (1) thin margins and wage increases that clients do not pay for; (2) dependence on a few large contracts; (3) staff shortages and turnover; (4) incidents and liability; (5) licence requirements that differ by canton. Due diligence should check contract terms, price-adjustment clauses and compliance with the collective agreement.

▶What is the difference between Securitas and Protectas?

They are different companies. Securitas AG, founded in Bern in 1907, belongs to the independent Swiss Securitas Group. Protectas, founded in Lausanne in 1976, belongs to the Swedish Securitas AB, the world's largest security company, since 1992.

▶Where are Swiss security companies located?

Employment is concentrated where the national groups are registered: Bern and Solothurn (9,542 employees in 2024) and Western Switzerland (8,116), followed by Zurich (2,672), Northwestern Switzerland (2,256), Eastern Switzerland (1,786), Central Switzerland (994) and Ticino (660).

Security Services & Monitoring