Brink's to Acquire British, Luxembourg Security Operations

RICHMOND, Va. -- The Brink's Co., known for its armored vehicles, said Thursday it has agreed to pay about $38.2 million (29.5 million euros) for two security units owned by London-based Group 4 Securicor PLC.

Under the deal, the Richmond company's Brink's Inc. unit will buy Securicor Luxembourg SA, which provides guards, alarm monitoring services and secure cash transportation. It will also acquire Group 4 Falck Cash Services UK Limited, which offers services such as cash processing to the financial and retail sectors in Scotland and northwest England.

The agreements are subject to closing conditions and approval by the European Commission. Brink's hopes to complete the transaction sometime in 2005, though it said it was unable to provide a specific date.

Group 4 Securicor is the world's largest security firm, created last year through the merger of Securicor PLC of Britain and Group 4 Falck A/S of Denmark. It is spinning off the two operations as a condition of the European Commission's approval of the merger.