Garda World Security today announced that it had acquired Securite et Protection Secpro Inc., a large guard services provider from Quebec City.
The acquisition of Secpro costs Garda $6.85 million CAN (US $6.04 million), and Garda said the purchase would likely positively affect the company's first quarter results.
Secpro was founded in 1974, has over 1,700 employees and generates over $37 million in annual revenues. A family-run company, the current president of Secpro is the son of the founder.
The acquisition follows a pattern of rapid acquisition expansion by Garda, and may not come as a surprise for those who know Garda's senior management well. Stephan Cretier, Garda's president and CEO once worked in senior management for Secpro.
"It was natural for Garda to take over a firm that I knew well," said Cretier, who added that Secpro will be integrated within Garda operations.