Garda World Security Corporation
TSX : GW

Garda World Security Corporation

February 17, 2011 09:01 ET

Garda Announces the Acquisition of Kolossal Security

MONTREAL, QUEBEC, CANADA--(Marketwire - Feb. 17, 2011) - Garda Security Group, Canada's premier security solutions provider and a subsidiary of Garda World Security Corporation (TSX:GW) announced today that it has reached an agreement in principle to acquire Kolossal Security, one of Canada's largest privately held security services providers.

Founded in 1980 by Serge Dumont, Kolossal offers a full range of integrated security services. Based in Montreal, the firm operates in a variety of markets including the financial, commercial, industrial, institutional and governmental sectors. Kolossal generates over $65 million in annual revenues and employs more than 2,600 people.

"We are pleased that Garda has decided to acquire our company as it represents an excellent opportunity for our employees to join a financially sound corporation and an experienced team with very high quality standards," said Serge Dumont, former President and General Manager of Kolossal.

"Transactions of this type, done at very attractive multiples, have been key to driving value for our shareholders," declared Marc-André Aubé, Chief Operating Officer, Security Solutions. "This acquisition fits perfectly with our existing platform and strengthens our position as Canada's premier security solutions provider."

Once the integration is completed, Kolossal's physical security officers as well as consulting and investigation professionals will be integrated into Garda's operations and will operate under Garda's brand name. Airport security screening employees will maintain their operations under the Kolossal Airport Security Services brand.

The purchase price is $6.95 million of which $4.25 million will be paid at closing. The transaction is expected to be completed this month and will have a positive impact on this year's financial results.

ABOUT GARDA

Garda (TSX:GW) is a global provider of security solutions, cash logistics, and global risk consulting services with headquarters in Montreal, Canada. The firm's 45,000 dedicated professionals, among the most highly qualified and best-trained in the industry, serve clients in countries throughout North America, Europe, Latin America, Africa, Asia, and the Middle East. The company's decentralized management philosophy and structure encourages employees to be entrepreneurial and performance-driven in their approach to client service and the pursuit of excellence in all they do. Garda's global experts take the time to fully understand their clients' business goals and objectives in order to customize solutions with strong local engagement that meet their needs. As a result, clients can improve operational performance and meet their corporate obligations. With proven experience and a commitment to ensuring the highest ethical standards in everything the Corporation does, Garda has earned a reputation for integrity, leadership, and uncompromising safety standards. Most importantly, Garda is a firm in which businesses, governments, and individual clients place their trust. For more information, visit: www.gardasecurity.com

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