Brink’s attains majority stake in two companies

Security-services company The Brink's Co. has gone on a buying spree.

The Henrico County-based company bought an additional 38 percent stake in India's Brink's Arya, bringing its holdings in the Mumbai-based cash handling and logistics company to a 78 percent majority interest.

Brinks's also acquired a majority stake in ICD Limited, a provider of commercial security services in the Asia-Pacific region. Brink's didn't disclose its stake.

ICD designs, installs, maintains and manages commercial security systems. The company has its main operations in China but has additional offices in Hong Kong, India, Singapore and Australia.

ICD employs about 200 people and had 2008 revenue of $12 million.

Terms of the deal were not disclosed.

"ICD gives Brink's an entry point into Asia's fast-growing commercial security market and supplements our existing presence in the region," Michael T. Dan, chairman, president and CEO of Brink's, said in a statement.

"It also provides immediate access to an impressive list of multinational clients that are expanding throughout Asia."

Ron Efron, ICD's CEO, said the deal with Brink's will help strengthen his company and expand the business.

In the Arya deal, Brink's increased its stake by 40 percent in a company that Brink's has had an ownership position in since 1981. Brink's Arya was founded as a joint venture between Brink's and private partners.

In 2008, the company had a total revenue of $25 million and employs about 2,300 people.

Brink's shares rose 1.58 percent, or 41 cents, to close at $26.33.

-- Gregory J. Gilligan