Brink's

The Brink’s Company
Public
Traded as NYSE: BCO
S&P 600 Component
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
 Douglas A. Pertz (President & 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. 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 134,000 people.[2] 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.

In 1962, Brink's was acquired by Pittston, a coal company. Burlington Air Express was acquired in 1982. Brink's Home Security was started in 1983.[3] Pittston sold off its coal assets in the 2000s and renamed the company Brink's. The home security unit was also spun off.[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.

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.[5]

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 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.

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. Linfox Armaguard made an offer to purchase Brink's Australia's CIT operations, and Brink's is continuing their precious goods logistics business within Australia.[6]

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.[7] The spin-off was completed in the fourth quarter of 2008, and by mid-2009 was re-branded as Broadview Security.[8] 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.[9]

1950 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, on the night of January 17, 1950. Led by Boston small-time hood, Tony "Fats" Pino, 11 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".

All 11 members of the gang were later arrested, and 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

On October 20, 1981, members of the Weather Underground Organization and Black Liberation Army attempted an armed robbery of a Brink’s armored car in Nanuet, New York. 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.[10]

1983 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.[11]

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, who was working the grounds and wearing a blue shirt, blue hat, and yellow safety vest, approached the armored car guard, pepper-sprayed him, stole $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's. All were "hired" by a phony ad, placed on Craigslist by a culprit the media dubbed "D.B. Tuber" (after famed hi-jacker, D. B. Cooper), instructing them to show up at the bank at the same time, wearing 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 of the crime.[12][13]

2013 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. The Fokker 100 was on the apron at Brussels Airport, Belgium, just before 20:00 CET.[14][15][16] The heist was accomplished without a shot being fired.[14]

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 Fresno. 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.[17][18][19]

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%.[20] 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.[21]

In April 2017 it was announced that Brinks had chosen the FN Herstal FN 509 9mm to be the new sidearm for their armed guards. [22] [23]

References

  1. 1 2 3 4 5 "Brink's 2013 Annual Report". 2014-02-28.
  2. 1 2 3 "brink's, Form 10-K, Annual Report, Filing Date Feb 28, 2012" (PDF). secdatabase.com. Retrieved Feb 12, 2013.
  3. ↑ The Pittston Company - Company Profile, Information, Business Description, History, Background Information on The Pittston Company
  4. ↑ Brink's sells off coal assets
  5. ↑ "Brink`s Acquires Logistics Software Firm in France". Reuters. 2012-01-09. Retrieved 2016-04-18.
  6. ↑ "Error: permission denied". accc.gov.au.
  7. ↑ Gutierrez, Carl (February 25, 2008). "Brink's Goes Splitesville". Market Scan. Forbes.com.
  8. ↑ Burkitt, Laurie (June 30, 2009). "Brink's $120 Million Name Change". Ad Campaigns. Its home security business becomes Broadview.
  9. ↑ Archived February 11, 2010, at the Wayback Machine.
  10. ↑ "Joseph Trombino: Close Calls Never Counted". New York Times. September 17, 2001.
  11. ↑ McFADDEN, ROBERT D. (1993-11-14). "NY Times". New York Times. Retrieved 2013-09-19.
  12. ↑ Doughery, Phil. "D.B. Tuber". History Link.
  13. ↑ Ith, Ian. "6-year sentence in robbery with getaway inner tube". The Seattle Times. Archived from the original on 2014-12-19.
  14. 1 2 Chrisafis, Angelique (19 February 2013). "Diamond heist at Brussels airport nets gang up to £30m in gems". The Guardian. Retrieved 19 February 2013.
  15. ↑ Casert, Raf (19 February 2013). "Diamond heist hits Swiss plane on Brussels tarmac". Associated Press. Archived from the original on 21 February 2013. Retrieved 19 February 2013.
  16. ↑ "Brussels diamond robbery nets 'gigantic' haul". BBC. 19 February 2013. Retrieved 19 February 2013.
  17. ↑ Cavaliere, Victoria (30 May 2014). "California man returns $125K dropped from armored car". Reuters. Retrieved 7 June 2014.
  18. ↑ 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.
  19. ↑ O'Neill, Natalie (30 May 2014). "Poor man returns $125K dropped from Brinks truck". New York Post. Retrieved 7 June 2014.
  20. ↑ "Starboard raises stake in cash handler Brink's to 12.4 percent". Reuters. 6 October 2015.
  21. ↑ "Texas Tribune".
  22. ↑ http://www.theoutdoorwire.com/story/1493161677a0mvpe7hsqe
  23. ↑ https://fnamerica.com/press-releases/brinks-incorporated-selects-fn-509/

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

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