March 01, 2015 3:58 AM ET

Commercial Services and Supplies

Company Overview of Garda World Security Corp.

Company Overview

Garda World Security Corporation provides business solutions and security services worldwide. The company operates in two segments, Cash Services and Protective Services. The Cash Services segment’s solutions include a combination of armored transportation services, cargo aircraft, deposit processing systems, cash vault services, in-store cash control systems, and check imaging, as well as ATM services. This segment’s platform comprises approximately 285 branches, 3,500 armored and other vehicles, and 157 cargo aircraft serving various customers. The Protective Services segment offers a range of integrated services to the public and private sector customers in various industries, including s...

1390 Barré Street

Montreal, QC H3C 1N4


Founded in 1995

48,000 Employees





Key Executives for Garda World Security Corp.

Founder, Chairman, Chief Executive Officer and President
Chief Financial Officer and Senior Vice President
President of Protective Services Canada and Chief Operating Officer of Protective Services Canada
President of International Protective Services and Chief Operating Officer of International Protective Services
President of Cash Services and Chief Operating Officer of Cash Services
Compensation as of Fiscal Year 2014.

Garda World Security Corp. Key Developments

Garda World Security Corporation Reports Earnings Results for the Year Ended January 31, 2014

Garda World Security Corporation reported earnings results for the year ended January 31, 2014. The company reported net loss for the year ended January 31, 2014 of CAD 102.29 million, compared to net loss of CAD 39.96 million for the year ended January 31, 2013. Revenues were CAD 1.51 billion, compared to CAD 1.35 billion for the year ended January 31, 2013. Loss before finance costs and income taxes was CAD 8.66 million, compared to a gain before finance costs and income taxes of CAD 22.85 million for the year ended January 31, 2013. Loss before income taxes for the year ended January 31, 2014 was CAD 134.81 million, compared to loss before income taxes of CAD 51.67 million for the year ended January 31, 2013.

Garda World Security Corporation Announces Commencement of Private Offering of USD 140.0 Million Aggregate Principal Amount of Additional 7.25% Senior Notes Due 2021

Garda World Security Corporation announced the commencement of a private offering of USD 140.0 million aggregate principal amount of additional 7.25% senior notes due 2021. The company intends to use the gross proceeds from the notes offering, together with cash on hand, to fund a CAD 155.0 million distribution to its equity holders and to pay related fees and expenses. The notes are expected to be treated as a single series with GardaWorld's existing USD 300.0 million aggregate principal amount of 7.25% senior notes due 2021. The notes will have substantially the same terms as those of the Existing Notes, except that the Notes will initially be subject to restrictions on transfer and will trade separately under different CUSIP and ISIN numbers until such transfer restrictions no longer apply, which will occur, at the earliest, on the date that is four months plus one day after the Notes are issued. Thereafter, holders of the Notes may transfer their Notes into the same CUSIP and ISIN as the Existing Notes issued pursuant to Rule 144A or Regulation S under the Securities Act of 1933, as amended, as applicable. The offering of the Notes will be made in a private transaction in reliance upon an exemption from the registration requirements of the Securities Act, in the United States only to investors who are "qualified institutional buyers," as that term is defined in Rule 144A under the Securities Act, or outside the United States pursuant to Regulation S under the Securities Act and upon reliance on the accredited investor exemption in Canada.

GardaWorld Signs 12 year, $1.4 Billion Strategic Agreement with Bank of America to Manage its Cash Processing and Check Imaging Services in 32 Locations across the US

GardaWorld signed a 12 year, $1.4 billion strategic agreement with Bank of America to manage its cash processing and check imaging services in 32 locations across the US. As part of this transaction, the company will acquire the bank's money rooms and related facilities. In this partnership, approximately 1,000 Bank of America vault employees will join GardaWorld Cash Services when the transaction closes in first quarter 2014. GardaWorld will then operate as a service provider to Bank of America. Both companies share a customer centric culture and will be working together on a seamless transition for clients. This agreement is part of GardaWorld's expansion in the cash services industry. GardaWorld provides direct and tangible contributions to financial institutions' strategic objectives, including: Lower operating expenses; Exit from fixed cost infrastructure; Direct alignment of operating expenses to business volumes; Move to flexible pay per service fee arrangement; Divestiture of real estate; and Single nationwide technology cash processing platform. When the transaction is completed in first quarter 2014, GardaWorld will operate 280 secure cash processing centers across the US.

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