Garda World Security Corporation

Garda World Security Corporation

November 02, 2006 09:00 ET

Garda Announces the Acquisition of Securite et Protection Secpro

MONTREAL, QUEBEC--(CCNMatthews - Nov. 2, 2006) - Garda World Security Corporation (TSX:GW), a North American leader in security and investigations services, announced today the acquisition of Securite et Protection Secpro Inc., a major Quebec-based security guard company headquartered in Quebec City.

Secpro, founded in 1974, offers security guard, executive protection and patrol services in Quebec. The firm generates over $37 million in annual revenues and has more than 1,770 employees.

"We are pleased that Garda has accepted to acquire our company as it represents an excellent opportunity for us to join a fast-growing company recognized for its proven track record and successful business model," said Francois Picard, President of Secpro. "The firm, founded by my father, will be taken over by an experienced team, with high quality standards and able to meet our customers' growing needs".

"Although Garda has recently focused a great part of its strategic growth in the United States, we also intend to further expand in Quebec," said Luc Dupont, Garda's Vice President of Business Development. "This acquisition, combined with our current activities, strengthens our position as the premier security provider in the Quebec market."

"I started my career in security at Secpro as a member of the senior management team. During those years, I was able to understand the market potential. It was natural for Garda to take over a firm that I knew well. I plan to quickly integrate its people and operations within Garda," announced Stephan Cretier, President and CEO of Garda.

The purchase price is $6.85 million, of which $6 million will be paid at closing. This transaction, effective as of November 1, 2006, is expected to have a positive impact on next year's first quarter results.

About Garda

Garda is well known for addressing complex security and investigations issues. As a well-established leading provider in security services, Garda is recognized as one of the fastest growing companies in North America, with offices from coast-to-coast in Canada, as well as in the United States, Mexico, and Europe. With a team of 20,000 employees, Garda offers integrated solutions in cash handling, physical security, consulting and investigations, and pre-employment screening. Its team includes specialists and some of the most highly qualified and best-trained professionals in the industry.

FORWARD-LOOKING INFORMATION -- This press release contains forward-looking statements reflecting Garda objectives, estimates, expectations and the impact of acquisitions on Garda's financial performance. These statements are identified by the use of verbs such as "believe", "anticipate", "estimate", and "expect" as well as by the use of future or conditional tenses. By their very nature, these types of statements involve risks and uncertainty. Consequently, reality may differ materially from Garda's projections or expectations.

Contact Information

  • Garda World Security Corporation
    Nathalie de Champlain
    Vice President, Communications, Garda
    Office: 514-281-2811 x 2800 or 800-859-1599 x 2800
    Cell.: 514-830-2800
    Laird Greenshields
    Morin Public Relations
    Office: 514-289-8688 x 221 or 877-289-7007
    Cell: 514-712-3252