The Competition Authority of Kenya (CAK) has granted an unconditional approval for the acquisition of Doctor No Parent Limited by Canadian entrepreneur and philanthropist Stephan Cretier. The buyout involves the company’s Kenyan subsidiary, GardaWorld Limited, which operates as KK Security Limited, a leading player in the country’s security services sector.
KK Security is well-known for its extensive portfolio of services, including manned security guarding, facilities management, canine security, VIP protection, and cash-in-transit services. The company plays a crucial role in the security industry, providing these essential services to various clients across the country.
Stephan Cretier, the founder and CEO of GardaWorld, which is one of the largest privately owned security corporations globally, has had indirect joint control of Doctor No Parent for some time. However, this approval allows Cretier to now hold over 50 percent of the shareholding in Doctor No Parent, thereby gaining full control over the company. This strategic move is expected to further strengthen GardaWorld’s presence in Kenya, a rapidly growing market for private security and facility management services.
In its statement, CAK explained that the approval was granted after thorough scrutiny, finding that the transaction would not negatively affect competition within the Kenyan market for private security and facility management services. The authority also noted that the buyout did not raise any concerns regarding public interest. The Kenyan market, with more than 50 registered facility management companies, is highly competitive, with players such as Tsebo Limited, JLL, and G4S Kenya also making significant contributions.
This development underscores the increasing interest of global investors in Kenya’s security industry, which continues to expand due to rising demand for comprehensive security solutions across various sectors. With Cretier’s ownership now firmly established, KK Security is poised to enhance its capabilities and continue offering top-tier security services in the region.
