Montréal-based security services company Garda World Security Corp. has agreed to acquire G4S Cash Solutions (Canada), the Toronto-based subsidiary of G4S International Holdings, for $110 million. The deal, which is expected to close before the end of this year, will see G4S Cash Solutions (Canada) form part of Garda World’s Cash Services platform, which provides cash processing solutions to businesses. Garda World was taken private for $1.1 billion by British buyout firm Apax Partners and Stephan Cretier, the company’s chairman and CEO, in November 2012.
GardaWorld Concludes a Binding Agreement for the Acquisition of G4S Cash Solutions (Canada)
MONTREAL, QUEBEC–(Marketwired – Aug. 28, 2013) – Garda World Security Corporation (“GardaWorld”), the largest privately owned security services company in the world, has announced that it has signed a binding agreement for the acquisition of G4S Cash Solutions (Canada), for an aggregate consideration of C$110 million.
The completion of the transaction is subject to customary closing conditions including regulatory approvals. Closing is expected before the end of this year.
“GardaWorld is a Canadian company and we are thrilled at the prospect of welcoming the Canadian G4S Cash Solutions team,” said Stephan Crétier, President and CEO of GardaWorld. “Our Cash Services platform successfully established in Quebec and across the United States will now offer a fully integrated North American continental cross-border service delivery solution to all our clients. We look forward to working with G4S employees and having them as part of our performance-driven team. We expect a seamless transition as both our organizations share the commitment to a customer centric-culture and best-in-class service delivery.”
GardaWorld will be working with G4S to ensure customers and employees experience a smooth transition once necessary approvals have been obtained.
Headquartered in Montreal, Canada, GardaWorld provides business solutions and security services around the world. Our 45,000 highly trained, dedicated professionals serve clients throughout North America, Latin America, Europe, Africa, Asia and the Middle East. GardaWorld works across a broad range of sectors, including natural resources, retail, construction, telecommunications and manufacturing, and on behalf of Fortune 500 companies, governments, NGOs and humanitarian relief organizations. For more information, visit www.garda.com
About Garda Cash Services
GardaWorld’s Cash Services platform, successfully established in Quebec and across the United States, has the most expansive footprint in North America. Our 10,000 cash services employees process over $5 billion in currency from 200 secure operations centers. We provide comprehensive cash processing solutions for banking and retail businesses, including Armored Cash Transportation, Smart Safes, Cash Vaults, Check Imaging, ATM and EvenExchange® Change Order Processing services. For more information, visit www.garda.com/cashservices
Nathalie de Champlain, Vice President Communications
Joe Gavaghan, Director, Corporate Communications
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