Garda World Completes Acquisition of United Armored Services
MONTREAL, QUEBEC--(CCNMatthews - Dec. 1, 2005) - Garda World Security Corporation (TSX:GW), one of North America's leading providers of security and cash handling services, is pleased to announce today that it has concluded the acquisition of United Armored Services.
United Armored Services with annual revenues of US$40 million, and 600 employees, is the largest armored services company operating in the Midwestern United States, and the sixth largest nationally. For the last 35 years, United Armored Services has been managing the currency and valuables of the largest financial institutions; retailers; and federal, state and local governments in the Midwestern United States. Strategically headquartered in Broadview, a suburb of Chicago, the company operates from nine locations in Illinois, Wisconsin, Iowa and Indiana.
"With the combination of Vance International and United Armored Services, we are implementing the same business model in the United States as we have successfully done in Canada", says Stephan Cretier, President and CEO.
The take-over of United Armored services' operations is effective immediately. This transaction is expected to have a positive impact on next year's results.
About Garda
Garda is a well-established leading provider of security and cash handling services in North America. The company employs over 14,000 people and is headquartered in Montreal, with offices from coast-to-coast in Canada, as well as in the United States, Mexico and Europe. The company, known for its Total Security Solutions approach, provides physical security, cash handling, investigation, employment background check and electronic security services.
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, Canada's largest provider of search and retrieval services for investigative purposes.
FORWARD-LOOKING INFORMATION -- This press release contains forward-looking statements reflecting Garda objectives, estimates, expectations and impact of the acquisition on Garda's financial performance. These statements are identified by the use of verbs such as "believe", "anticipate", "estimate", and "expect" as well as by the use of future or conditional tenses. By their very nature, these types of statements involve risks and uncertainty. Consequently, reality may differ materially from Garda's projections or expectations.
Contact:
Nathalie de ChamplainGarda World Security CorporationVice President, communications(514) 281-2811, ext.2800 or (800) 859-1599, ext. 2800(514) 830-2800 (cell.)www.gardaglobal.com
Laird GreenshieldsMorin Public Relations(514) 289-8688(514) 712-3252 (cell.)
