Garda World Security Corporation
TSX : GW

Garda World Security Corporation

November 07, 2005 08:00 ET

GARDA WORLD ACQUIRES ONTARIO GUARD SERVICES

MONTREAL, QUEBEC--(CCNMatthews - Nov. 7, 2005) - Garda World Security Corporation (TSX:GW), Canada's leading provider of security and cash handling services, is pleased to announce today the acquisition of Ontario Guard Services. Headquartered in Toronto, with a branch office in Windsor, Ontario Guard Services has annual revenues of close to $14 million.

Since 1973, Ontario Guard Services, one of Ontario's largest providers of quality security services in the Greater Toronto Area (GTA), has dedicated itself to meeting the demands of various major clients in the industrial, commercial, financial, institutional and condominium markets.

"This acquisition enables us to solidify our position in the GTA market and pursue additional opportunities in the traditional sector of physical security services", said Stephan Cretier, President and CEO of Garda World. "Combined with our current operations across Ontario, including airport screening operations, this acquisition enables us to become one of the largest providers of physical security in the province."

The purchase price is approximately $3.7 million paid as follow: $2.65 million at closing and a vendor take-back of $1.05 million repayable over 2 years. This transaction will have a positive impact on next year's results.

About Garda World

Garda World is a well-established leading provider of security and cash handling services in Canada. The company employs over 9,000 people and is headquartered in Montreal, with offices across the country. The company, known for its Total Security Solutions approach, provides physical security, cash handling, investigation, employment background check and electronic security services. Recognised for its competence in addressing the most complex security issues, Garda World has built a solid reputation among companies in both traditional and new-economy industries. Garda World is playing an active role in the consolidation of the Canadian security market through a series of strategic acquisitions and strong internal growth and is recognized as one of the fastest growing companies in Canada. With its unique competitive position, a leading market presence in Canada and one-stop service offering, Garda World is positioned to take full advantage of its positive growth for its customers and shareholders alike. Garda World is also the sole shareholder of Keyfacts Canada, Canada's largest provider of search and retrieval services for investigative purposes. Website: www.garda.ca.

Contact Information

  • Garda World Security
    Nathalie de Champlain
    Vice-President, Communications
    (514) 281-2811 x2800
    or
    Morin Public Relations
    Laird Greenshields
    (514) 289-8688