Garda World Security Corporation
TSX : GW

Garda World Security Corporation

April 04, 2006 08:30 ET

GARDA CONTINUES ITS EXPANSION IN THE UNITED STATES WITH THE ACQUISITION OF SECURITY ARMORED EXPRESS

MONTREAL, QUEBEC--(CCNMatthews - April 4, 2006) - Garda World Security Corporation (TSX:GW), one of North America's leading providers of physical security, cash-handling, investigative, and pre-employment screening services, is pleased to announce today that it has acquired Security Armored Express. It is Garda's second acquisition of a cash-handling firm in the United States and the transaction is part of the company's development of this market.

For the last 25 years, Security Armored Express has been providing daily secure and fully insured transportation of currency, coin, securities, precious metals, art, and other highly valuable shipments. With annual revenues of US$15 million and 200 employees, the firm services over 500 financial institutions, large and small retail customers, gold mines, casinos, and other businesses.

Strategically headquartered in Helena, Montana, Security Armored Express operates in Montana, Wyoming, Utah, Idaho, Washington, Colorado, Nevada, and in some parts of North Dakota, Oregon, and Nebraska.

"This acquisition is part of our plan to expand the business and consolidate the market in the region. It is an important stepping stone in the development of the cash-handling platform in the US for Garda," said Stephan Cretier, President and CEO of Garda.

Bryan Sandrock, President of Security Armored Express, is pleased to continue leading the strategic vision of the corporation while taking on an expanded role as Senior Vice President of Garda's cash handling services in the US. "I am very proud to pursue David Blatter's legacy, the founder, by joining a very dynamic security firm. As part of Garda, we will now be able to maintain our local flavor, while expanding our operations, sharing best practices, proposing new opportunities to our clients, and having a positive influence on the armored business in the United States," he said.

In relation to this transaction, Garda will pay a cash amount and will issue 74,718 class "A" shares of its capital to the vendors at a price of $23,43 per issued share for a total of $1,750,650. This transaction is expected to have a positive impact on next quarter's results.

About Garda

Garda, known for its complete solutions approach, is a well-established leading provider of physical security, cash handling, consulting and investigations and pre-employment screening services in North America. The company employs over 19,000 people and is headquartered in Montreal, Quebec, with offices from coast-to-coast in Canada, as well as in the United States, Mexico and Europe.

Recognized for its competence in addressing the most complex security issues, Garda has built a solid reputation among companies in both traditional and new-economy industries. Garda plays an active role in the consolidation of the security market. Through a series of strategic acquisitions and strong internal growth, Garda is recognized as one of the fastest growing companies in North America.

With its unique competitive position, Garda is set to take full advantage of its positive growth for its customers and shareholders alike. Garda is also the sole shareholder of Keyfacts, Vance, United Armored Services, Chartrand Laframboise and Signum Investigations. For more information, visit www.gardaglobal.com.

Contact Information

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