Brink's
Safes, ATMs | |
Revenue | US$4.88 billion (2023) |
---|---|
US$425 million (2023) | |
US$98.3 million (2023) | |
Total assets | US$6.60 billion (2023) |
Total equity | US$397 million (2023) |
Number of employees | c. 66,000 (2023) |
Website | brinks |
Footnotes / references [1] |
The Brink's Company is an American cash handling company, headquartered in Richmond, Virginia. Its operations include cash-in-transit, ATM replenishment & maintenance, and cash management & payment services, such as vault outsourcing, money processing, intelligent safe services, and international transportation of valuables.
Operations
Brink's is popularly known for its
In 1962, Brink's was acquired by Pittston, a coal company.
Burlington Air Express was renamed BAX Global in 1997, and was sold to Deutsche Bahn for $1.1 billion in 2006.
In January 2012, Brink's acquired Kheops, SAS, a provider of logistics software and related services in France, for approximately $17 million. This acquisition gave the company proprietary control of software used primarily in cash-in-transit and money processing operations in France.[4]
A significant portion of Brink's business is conducted internationally, with 82% of $3.9 billion in revenues earned outside the United States in 2013. The majority of Brink's consolidated revenues in 2013 was earned in operations located in nine countries, each contributing in excess of $100 million of revenues. The 2013 revenues from these countries totaled $3.0 billion or 79% of consolidated revenues. These operations, in declining order of revenues, were the U.S., France, Mexico, Brazil, Venezuela, Canada, Colombia, Argentina and the Netherlands.
On January 31, 2013, Brink's acquired Brazil-based Rede Transacoes Eletronicas Ltda. ("Redetrel") for approximately $26 million. Redetrel distributes electronic prepaid products, including mobile phone airtime, via a network of approximately 20,000 retail locations across Brazil. Redetrel's strong distribution network supplements Brink's existing payments business, ePago, which has operations in Brazil, Mexico, Colombia and Panama.
Discontinued operations
In November 2010, Brink's former cash-in-transit (CIT) operations in Belgium filed for bankruptcy, after local union employees rejected a restructuring plan, and was placed in bankruptcy on February 2, 2011. Brink's deconsolidated the Belgium subsidiary in 2010. However in 2021 returned to Belgium and took over G4S's Cash Solutions division.
In 2012, Brink's agreed to sell its cash-in-transit operations in Germany and Poland, and event security operations in France, and the company completed the divestiture of its guarding operations in Morocco, in December 2012.
In May 2014, Brink's US decided to cease their cash-in-transit operations throughout Australia. Armaguard made an offer to purchase Brink's Australia's CIT operations, and Brink's is continuing their precious goods logistics business within Australia.[5]
Home security
Brinks began offering home security alarm systems in 1982. In 2008, it was spun off into a separate publicly traded company, despite accounting for 15% of the company's revenue that year.[6] The company rebranded as Broadview Security in 2009 with a massive advertising campaign.[6]
The ads were widely criticized as unscrupulous, fear-mongering, and seen as exaggerating the capabilities of
In 2010, Broadview was sold to Tyco International, then-owner of ADT, for $2 billion.[13][14] The acquisition closed in mid-2010, after which the Broadview name and product line were discontinued, with its operations merged into ADT. The merger combined the two largest home security providers in the United States, adding Broadview's 1.3 million customer accounts to ADT's existing customer base of 7.4 million.[15]
Brinks later re-entered the home security industry in 2018, through a trademark licensing deal with Monitronics International, which currently offers services under the name Brink's Home.[16][17]
Lock manufacturing
Brink's-branded door locks and padlocks have been manufactured and sold under license by California-based Hampton Products since 1998.[18][19]
Notable incidents
1950 robbery
The Great Brink's Robbery was an armed robbery of the Brinks Building at the corner of Prince St. and Commercial St. in the North End of
All 11 members of the gang were later arrested, and all were paroled and released by 1971, except for Joseph "Big Joe" McGinnis, the originator of the heist, who died in prison. Despite ongoing efforts by the Federal Bureau of Investigation and local authorities, only $58,000 of the initial $2.7 million stolen was ever recovered.[citation needed]
1981 attempted robbery
On October 20, 1981, members of the
1983 Brink's-Mat robbery
On November 26, 1983, there was an armed robbery at a warehouse near London's
1993 New York robbery
On January 5, 1993, $7.4 million was stolen from the Brink's Armored Car Depot in Rochester, New York, the fifth largest robbery in US history.[when?] Four men, Sam Millar, Patrick Moloney, former Rochester Police officer Thomas O'Connor, and Charles McCormick, all of whom had ties to the Provisional Irish Republican Army, were accused.[22]
2008 "D.B. Tuber" robbery
On September 30, 2008, in
2013 Brussels Airport diamond heist
On 18 February 2013, eight masked gunmen, in two cars with
2014 return of lost money bag
In May 2014, California resident Joe Cornell found a Brink's bag with $125,000 inside; Cornell saw the bag of cash accidentally fall out of the back of a Brink's transport car as it drove over the railroad tracks in downtown
2022 Lebec Flying J heist
On July 11, 2022, approximately $100 million to $150 million worth of jewelry, luxury watches, and other valuables were stolen from a Brink's truck within a 27-minute window whilst the two drivers were at a
Toronto airport theft
In April 2023, $20 million of gold and "high-value goods" were stolen from Toronto Pearson International Airport while in Brink's responsibility and care. [35]
Recent corporate developments
In October 2015, Brink's activist investor Starboard Value LP announced it had raised its stake in the company to around 12.4%.[36] Later that year, Brink's responded to Texas RFI 212P with their perspective on a solution for Texas HB 483, establishing the Texas Bullion Depository.[37]
In April 2017, it was announced that Brinks had chosen the
In August 2018, Brinks Inc. acquired Dunbar Armored for $520 million.[40]
References
- ^ "2023 Annual Report (Form 10-K)". U.S. Securities and Exchange Commission. February 29, 2024.
- ^ "The Pittston Company - Company Profile, Information, Business Description, History, Background Information on The Pittston Company". www.referenceforbusiness.com. Retrieved 16 March 2019.
- ^ "Brink's sells off coal assets". www.SecurityInfoWatch.com. 17 November 2008. Retrieved 16 March 2019.
- ^ "Brink's Acquires Logistics Software Firm in France". Reuters. 2012-01-09. Archived from the original on 2016-04-27. Retrieved 2016-04-18.
- Australian Competition & Consumer Commission. 19 October 2012.
- ^ a b Burkitt, Laurie (30 June 2009). "Brink's $120 Million Name Change". Forbes.
- ^ "Community Security: Broadview Security Commercials Feed the Alarm Industry's Poor Reputation". Archived from the original on July 1, 2011.
- ^ Gcotharn (16 March 2010). "The End Zone: Broadview Security commercials".
- ^ "Get Used to Broadview Security's You-Might-Be-Raped Ads -- They Work". www.cbsnews.com.
- ^ "Dear Women: You are never safe. Seriously. We mean it. Hugs n' kisses, Broadview Security". Archived from the original on 2009-11-19. Retrieved 2018-07-01.
- ^ "Broadview First Security Services Commercial". Archived from the original on July 2, 2018. Retrieved July 1, 2018.
- ^ "Saturday Night Live parody: Broadview Security". Retrieved 2020-05-28.
- ^ "Tyco to Acquire Broadview Security for $1.9 Billion". New York Times DealBook. January 18, 2010.
- ^ Merced, Michael J. de la (September 19, 2011). "Tyco to Split Itself in 3, Hoping for More Value". New York Times DealBook.
- ^ "Tyco International Completes Acquisition of Broadview Security". Archived from the original on July 14, 2011.
- ^ Bosch, Rodney (28 February 2018). "MONI CEO on Bringing Brinks Branding Back". Security Sales & Integration.
- ^ "BRIEF-Brink's Announces Brand Licensing Agreement With Moni Smart ..." Reuters. February 26, 2018.
- ^ "Installation Instructions for Tubular Locksets and Levers" (PDF). Hampton Products. 2001-02-15. Archived from the original (PDF) on 2003-03-12.
- ^ "Hampton Products International names Greg Gluchowski as president and CEO". Security Info Watch. 2021-03-09. Retrieved 2023-10-23.
- PIX11.
- ^ "Joseph Trombino: Close Calls Never Counted". New York Times. September 17, 2001.
- ^ McFADDEN, ROBERT D. (1993-11-14). "NY Times". New York Times. Retrieved 2013-09-19.
- ^ Doughery, Phil. "D.B. Tuber". History Link.
- ^ Ith, Ian. "6-year sentence in robbery with getaway inner tube". The Seattle Times. Archived from the original on 2014-12-19.
- ^ a b Chrisafis, Angelique (19 February 2013). "Diamond heist at Brussels airport nets gang up to £30m in gems". The Guardian. Retrieved 19 February 2013.
- ^ Casert, Raf (19 February 2013). "Diamond heist hits Swiss plane on Brussels tarmac". Associated Press. Archived from the original on 24 February 2013. Retrieved 19 February 2013.
- ^ "Brussels diamond robbery nets 'gigantic' haul". BBC. 19 February 2013. Retrieved 19 February 2013.
- ^ Cavaliere, Victoria (30 May 2014). "California man returns $125K dropped from armored car". Reuters. Archived from the original on 6 June 2014. Retrieved 7 June 2014.
- ^ HOSTETTER, GEORGE (30 May 2014). "Fresno man finds, returns Brinks bag with $125,000 in cash". Fresno Bee. Archived from the original on 3 June 2014. Retrieved 7 June 2014.
- ^ O'Neill, Natalie (30 May 2014). "Poor man returns $125K dropped from Brinks truck". New York Post. Retrieved 7 June 2014.
- ^ Miller, Daniel (August 23, 2022). "Brink's driver was asleep inside vehicle during multimillion-dollar jewelry heist". Los Angeles Times.
- ^ Flay, Sophie (July 18, 2022). "FBI investigating massive jewelry heist in SoCal". ABC7 Los Angeles.
- ^ Otis, Ginger Adams (July 18, 2022). "Armored Brink's Security Truck in California Robbed of Gems and Jewelry Worth Millions" – via www.wsj.com.
- ^ Dress, Brad (July 20, 2022). "Millions of dollars worth of jewelry stolen in California Brinks truck heist".
- ^ "New details emerge about who was co-ordinating $20M shipment stolen in Toronto gold heist". 24 April 2023.
- ^ "Starboard raises stake in cash handler Brink's to 12.4 percent". Reuters. 6 October 2015. Archived from the original on 6 October 2015. Retrieved 30 June 2017.
- ^ Batheja, Aman (October 30, 2015). "Firms Large and Small Vying to Help Texas Build Gold Depository". The Texas Tribune.
- ^ "Brink's Selects the FN 509 - Outdoor Wire". www.theoutdoorwire.com. Retrieved 16 March 2019.
- ^ "Brink's, Incorporated Selects the FN 509™". FN®. 25 April 2017. Retrieved 16 March 2019.
- ^ "Brink's Completes Acquisition of Dunbar Armored". GlobeNewsWire (Press release). 13 August 2018. Retrieved 8 June 2022.
External links
- Official website
- Official Canadian Site
- Brink's, Incorporated Website
- BAX Global Website
- Business data for Brink's:
- Brinks SEC Filings