Canadian security guard services company Garda World Security has made a big move onto U.S. soil with the acquisition of Vance International.
Vance International, a subsidiary of SPX Corporation, has been sold to the Canadian firm for $67.25 million in U.S. funds. The company is known for its guard staffing services as well its cash handling operations, and was considered to be one of the largest U.S. providers in those areas.
Vance International brings some 3,700 employees to Garda World Security, as well as offices in Virginia, New York, Florida, London and Mexico City. The company had been around for 20 years providing services that even ranged to investigations and security consulting. The company was acquired by SPX in 2002, and saw annual revenues of $155 million.
Garda World Security's President and CEO called the buy "a great acquisition," and said that Vance "fits in perfectly with our expansion strategy of implementing the same business model in the United States as we have successfully done in Canada."
Garda recently acquired U.S.-based United Armored Services.
An announcement from Garda indicated that the Vance management team would stay in place under the leadership of Vance President Drew Ladau.
Garda is online at www.gardaglobal.com.