Swedish Security services firm Securitas plans to grow in North America as “the recession generates improved opportunities for acquisitions”.

Swedish Securitas, one of the largest provider of security services in the world with some 230,000 employees in over 30 countries worldwide, said that second-quarter pretax profit rose 12 percent to 679 million Swedish kronor ($94.95 million) from a year-ago.

The security firm, with customers such as banks, airports and shopping centres, said the economic environment remains difficult as a large number of their customers are under continuous pressure to reduce cost.

Still, the downturn also holds possibilities as competitors with weaker financial muscles currently are relatively low-priced targets for the Swedish multinational security giant. The security firm plans to expands its market in the US and North America.

“The recession generates improved opportunities for acquisitions in North America, and we intend to selectively exploit them as they occur”, Securitas’ chief executive officer Alf Göransson said, adding that new sales have been good in the first six months in Security Services North America.

Sales in the quarter rose 23 percent to 15.9 billion kronor from 13.3 billion a year earlier.