Brink's

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The Brink’s Company
Type Public
Traded as NYSEBCO
Industry Logistics, Security
Founded 1859
Founder(s) 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 Safes, Products
Revenue IncreaseUS$3.942 billion (FY 2013)[1][2]
Operating income IncreaseUS$171.7 million (FY 2013)[1]
Net income IncreaseUS$56.8 million (FY 2013)[1]
Total assets IncreaseUS$2.498 billion (FY 2013)[1]
Total equity DecreaseUS$408 million (FY 2011)[1]
Employees 134,000 (Dec 2011)[2]
Website www.brinks.com
A Brink's van

The Brink's Company is a 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 across 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[edit]

Brink’s is popularly known for its bullet-resistant armored trucks which are used to 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 Incorporated evolved from an armored transportation service to one of the main providers of logistics solutions[clarification needed] and secure transportation in the world. 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 9 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. 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 was formerly known as Burlington Air Express.

Discontinued Operations

In 2012, Brink's agreed to sell cash-in-transit operations in Germany and Poland as well as 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 purchase Brink's Australia's CIT operations. Brink's are continuing their precious goods logistics business within Australia.[3]

Brink's Home Security[edit]

The Brink's Company announced on February 25, 2008 that it would spin off Brink's Home Security into a separate publicly traded company.[4] The spin-off was completed in the fourth quarter of 2008, and by mid-2009 was re-branded as Broadview Security.[5] 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.[6]

1950 Great Brink's Robbery[edit]

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 parolled and released by 1971, except for one member, who died in prison. Despite ongoing efforts by the FBI and local authorities, only $58,000 of the initial $2.7 million stolen was ever recovered.

1981 Attempted robbery[edit]

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 9/11 terrorist attacks in 2001.[7]

1983 Brink's-MAT robbery[edit]

Main article: Brink's-MAT robbery

On November 26, 1983 there was an armed robbery at a warehouse near Heathrow Airport, London operated by former Brink's joint venture Brink's-MAT. Three tonnes of gold bullion (worth £26 million) was stolen. Most of the gold has never been recovered.

1993 New York Robbery[edit]

$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.[8]

2013 Brussels Airport diamond heist[edit]

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.[9][10][11] The heist was accomplished without a shot being fired.[9]

2014 California man returns lost money bag[edit]

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 $5000 donation in Cornell's name to the Salvation Army, where he works.[12][13][14]

References[edit]

  1. ^ a b c d e "Brink's 2013 Annual Report". 2014-02-28. 
  2. ^ a b "brink's, Form 10-K, Annual Report, Filing Date Feb 28, 2012". secdatabase.com. Retrieved Feb 12, 2013. 
  3. ^ http://registers.accc.gov.au/content/index.phtml/itemId/1178743/fromItemId/750991
  4. ^ Gutierrez, Carl (February 25, 2008). "Brink's Goes Splitesville". Market Scan. Forbes.com. 
  5. ^ Burkitt, Laurie (June 30, 2009). "Brink's $120 Million Name Change". Ad Campaigns. "Its home security business becomes Broadview." 
  6. ^ [1][dead link]
  7. ^ "Joseph Trombino: Close Calls Never Counted". New York Times. September 17, 2001. 
  8. ^ By ROBERT D. McFADDENPublished: November 14, 1993 (1993-11-14). "NY Times". New York Times. Retrieved 2013-09-19. 
  9. ^ 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. 
  10. ^ 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. 
  11. ^ "Brussels diamond robbery nets 'gigantic' haul". BBC. 19 February 2013. Retrieved 19 February 2013. 
  12. ^ Cavaliere, Victoria (30 May 2014). "California man returns $125K dropped from armored car". Reuters. Retrieved 7 June 2014. 
  13. ^ HOSTETTER, GEORGE (30 May 2014). "Fresno man finds, returns Brinks bag with $125,000 in cash". Fresno Bee. Retrieved 7 June 2014. 
  14. ^ O'Neill, Natalie (30 May 2014). "Poor man returns $125K dropped from Brinks truck". New York Post. Retrieved 7 June 2014. 

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

External links[edit]