Brink's

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The Brink’s Company
Public
Traded as NYSE: BCO
Industry Logistics, Security
Founded 1859
Founder Perry Brink
Headquarters 1801 Bayberry Court
Richmond, VA 23226
Number of locations
 650 branches and 7,800 vehicles in 150 countries
Key people
 Thomas C. Schievelbein, CEO
Products Armored transport, Safes
Revenue IncreaseUS$3.942 billion (FY 2013)[1][2]
IncreaseUS$171.7 million (FY 2013)[1]
IncreaseUS$56.8 million (FY 2013)[1]
Total assets IncreaseUS$2.498 billion (FY 2013)[1]
Total equity DecreaseUS$408 million (FY 2011)[1]
Number of employees
 134,000 (Dec 2011)[2]
Website www.brinks.com
A Brink's van

The Brink's Company is an American security and protection company headquartered outside of Richmond, Virginia, United States. Its core business is Brink’s Inc.; it spun off its Brink’s Home Security operations into a separate company (Broadview Security) in 2008. The Brink’s brand and reputation span around the globe. In 2013, its international network serves customers in more than 100 countries and employs approximately 70,000 people. Operations include approximately 1,100 facilities, and 13,300 vehicles. The company emerged from the Pittston Company and changed its name to the Brink’s Company in 2003.

Operations

Brink’s is popularly known for its bullet-resistant armored trucks which carry money and valuable goods (once used to transport the Hope Diamond from an auction to the buyer's home). Brink’s is a provider of security services to banks, retailers, governments, mints and jewelers. Founded in 1859 by Perry Brink of Chicago, Illinois, Brink’s business evolved from local armored transportation services to providing corporate financial logistics and international secure transportation. 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.

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.[3]

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.

Brink's sold one of its core operations, BAX Global, a logistics and transportation solutions company for U.S. $1.1 billion to Deutsche Bahn on January 31, 2006. BAX Global used to be known as Burlington Air Express.

Discontinued operations

In 2012, Brink's agreed to sell cash-in-transit operations in Germany and Poland and its event security operations in France. Brink's completed the divestiture of guarding operations in Morocco in December 2012. Former cash-in-transit operations in Belgium filed for bankruptcy in November 2010, after a restructuring plan was rejected by local union employees, and was placed in bankruptcy on February 2, 2011. Brink's deconsolidated the Belgium subsidiary in 2010. In May 2014, Brink's US decided to cease their cash-in-transit (CIT) operations throughout Australia. Linfox Armaguard have made an offer to purchase Brink's Australia's CIT operations. Brink's is continuing their precious goods logistics business within Australia.[4]

Brink's Home Security

The Brink's Company announced on February 25, 2008 that it would spin off Brink's Home Security into a separate publicly traded company.[5] The spin-off was completed in the fourth quarter of 2008, and by mid-2009 was re-branded as Broadview Security.[6] On January 19, 2010, Tyco International announced that it is acquiring Broadview Security in a transaction that will bring together two of the largest names in home and commercial security. Broadview will merge and operate under ADT Security Services.[7]

1950 Great Brink's Robbery

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Main article: Great Brink's 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 Boston, Massachusetts, USA, on the night of January 17, 1950. Led by Boston small-time hood, Tony "Fats" Pino, eleven men broke in and stole $1,218,211.29 in cash, and $1,557,183.83 in checks, money orders, and other securities. At the time, it was the largest robbery in the history of the United States. Skillfully executed with only a bare minimum of clues left at the crime scene, the robbery was billed as "the crime of the century". The robbery was the work of an eleven-member gang, all of whom were later arrested, but all were paroled and released by 1971, except for one member, 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.

1981 Attempted robbery

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Main article: Brink's robbery (1981)

There was an attempted armed robbery of a Brink’s armored car by members of the Weather Underground Organization and Black Liberation Army that took place on October 20, 1981. The robbery resulted in a shootout that left two police officers, Edward O'Grady and Waverly Brown, and a Brink’s security guard, Pete Paige, dead. Paige's partner, Joe Trombino, was severely wounded in the gun battle, but survived. He later died in the World Trade Center during the September 11 attacks in 2001.[8]

1983 Brink's-Mat robbery

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Main article: Brink's-Mat robbery

On November 26, 1983 there was an armed robbery at a warehouse near London's Heathrow Airport operated by Brink's-Mat, a former joint venture between Brink's and the London-based company MAT Transport, which specialized in the transportation of valuable goods. Three tonnes of gold bullion (worth £26 million) was stolen. Most of the gold has never been recovered.

1993 New York Robbery

$7.4 million was stolen from the Brink’s Armored Car Depot in Rochester, New York, the fifth largest robbery in US history. Four men, Sam Millar, Rev. 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.[9]

2008 "D.B. Tuber's" Brinks Robbery

On September 30, 2008 in Monroe, Washington a Brinks Armored Car pulled up to make a delivery to the Bank of America. A landscaper working the grounds wearing a blue shirt, blue hat and yellow safety vest, approached the armored car guard and pepper-sprayed him, stealing $400,000 in cash and escaped on an inner tube. When police arrived, they found the bank's parking lot was full of men wearing identical clothing to the mysterious robber. All were "hired" by a phony ad placed on craigslist by, who media would call "D.B. Tuber" (after famed hi-jacker, D. B. Cooper) to show up at the bank at the same time, instructing them to wear a blue shirt, blue hat, and yellow safety vest. Months later, the FBI received a tip from a very attentive homeless man who had witnessed a "practice run" weeks prior to the robbery. DNA evidence later convicted former college football player Anthony Curcio to the crime.[10][11]

2013 Brussels Airport diamond heist

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Main article: Brussels Airport diamond heist

On 18 February 2013, eight masked gunmen in two cars with police markings stole approximately €38 million worth of diamonds from a Swiss-bound Fokker 100 operated by Helvetic Airways on the apron at Brussels Airport, Belgium, just before 20:00 CET.[12][13][14] The heist was accomplished without a shot being fired.[12]

2014 return of lost money bag

In May 2014, a California man found a Brink's bag with $125,000 inside. Joe Cornell saw the bag of cash fall out of the back of a Brink's transport car. As the car drove over the railroad tracks in downtown Fresno, the bag accidentally fell out. Cornell returned the bag of cash claiming, "it was the right thing to do." Brinks thanked the man for his honesty with a $5,000 reward and a $5,000 donation in Cornell's name to the Salvation Army, where he works.[15][16][17]

Recent news

In October 2015, Brink’s activist investor Starboard Value LP announced it had raised its stake in the company to around 12.4%.[18]

References

  1. ↑ 1.0 1.1 1.2 1.3 1.4 Lua error in package.lua at line 80: module 'strict' not found.
  2. ↑ 2.0 2.1 Lua error in package.lua at line 80: module 'strict' not found.
  3. ↑ Lua error in package.lua at line 80: module 'strict' not found.
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  7. ↑ [1] Archived February 11, 2010 at the Wayback Machine
  8. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  9. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  10. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  11. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  12. ↑ 12.0 12.1 Lua error in package.lua at line 80: module 'strict' not found.
  13. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  14. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  15. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  16. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  17. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  18. ↑ Lua error in package.lua at line 80: module 'strict' not found.

7. Annual Report for fiscal year ending December 31, 2012

External links

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