Brink's to buy certain Group 4 Securicor assets
By SSN Staff
Updated Tue March 1, 2005
RICHMOND, Va. - The Brink’s Company, the parent company of Brink’s Home Security, signed an agreement to purchase security service operations from Group 4 Securicor in the beginning of February for Euro 29.5 million ($37.7 million).
The contract calls for subsidiaries of Brink's Inc. to purchase Securicor Luxembourg S.A., a provider of manned guarding, alarm monitoring and response, and cash transportation and processing services in Luxembourg, and Group 4 Falck Cash Services UK Ltd., a cash-in-transit and cash processing service provider to the financial and retail markets in Scotland and northwest England.
Scott Dudley, director of investor relations with the company, said Brink’s has been looking to expand its presence in foreign markets, as well as in North America.
“One of the strategies for Brink’s Inc. is to grow through selling more of our value added services and expanding geographically,†Dudley said. “These agreements are a fit with that strategy.â€Â
The next step in the transaction is for Brink’s to receive approval from the European Commission - the same group that required Group 4 Securicor to sell off some of its assets after Group 4 Falck and Securicor merged in 2004 because of the combined entity’s large market penetration.
Dudley said Securicor Luxembourg is the larger business of the two, but both businesses assist in expanding on Brink’s significant presence in Europe.
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