Security Armored Car Service, Inc. history

A few years later, the company took over operation of the western half of the Pony Express, a company shipping packages between the American east and west coasts. It all began in 1852 when Wells Fargo & Co. was founded during the California gold rush.

In 1905, Lee Loomis founded the Cleary Creek Commercial Company.

However, in 1910, New York businessman David Bellamore built an armored motor car specifically for the banking industry.

Borg-Warner Corp. (BWC) was formed in 1928 through the merger of four firms engaged in the manufacture of auto parts.

It all started in the south of Sweden when Erik Philip-Sorensen founded the security company ‘Helsingborgs Nattvakt’ in 1934.

The Wackenhut Corporation, founded in 1954 by ex-F.B.I. agent George R. Wackenhut, is another leading United States-based security company.

By 1956, it was the world's largest company providing armored car services.

14, 1962, two men pretending to be police officers erected a barricade on a highway near Boston and detoured an armored mail truck into a dead end.

19, 1969, three guards driving a Wells Fargo truck dropped by Aqueduct Racetrack in Brooklyn, New York, and picked up $2 million.

Throughout subsequent years, this Chicago-based firm diversified into other areas such as chemicals, industrial equipment, air conditioning, and with the purchase of Baker Industries in 1978, protective services.

In 1979, the Loomis family decided to sell the Loomis Corporation.

The charges cost the armored car company millions in settlements, the last of which was $2.7 million paid in 1980 to 12 Federal Reserve banks.

Erik Philip-Sorensen handed over the control of Securitas to his sons, Sven and Jörgen, in 1981.

After being bought out by Merrill Lynch Capital Partners in 1987, BWC divested itself of all operations except for the automotive and protective services businesses.

In 1990, a federal informant charged with drug trafficking testified during his trial that a Pittsburgh mobster was responsible, but the claim was never substantiated and no one was ever charged.

In 1991, Securitas was listed on the Stockholm Stock Exchange and acquired several new companies abroad.

Pinkerton's enjoyed strong name recognition; capitalizing on this, Sun Coast Merchandise Corp. licensed the Pinkerton's name in 1992 to apply to a line of emergency lighting—Pinkerton Home Security & Safety Products.

In July of 1993, Wackenhut acquired United Kingdom-based International Maritime Services, Ltd., a company that provided security systems to the maritime industry.

In 1997, detective, armored guard, and armored car services was a $14.5 billion industry.

In 1998, the Pittston Brink's Group employed 41,800 people and had sales of approximately $1.45 billion.

In 1999, Securitas entered the US market.

By 2000, both Burns International and Pinkerton's were purchased by Securitas, a Swedish firm that is Europe's largest security company, which merged the two United States security companies.

Already one of the fastest growing sectors in the United States, the demand for security on all levels only continued to grow after the terrorist attacks of September 11, 2001.

Perez, Evan. "Demand for Security Still Promises Profit—Continuing Fears Mean the Sector Can Expect Sound, Long-Range Growth." Wall Street Journal , 9 April 2002.

In July 2003, Pinkerton's and Burns International officially become Securitas Security Services USA. Securitas USA is now the largest security company in the United States.

Growth within this industry was expected to continue in the next few years, with a predicted 29 percent annual growth rate generating an estimated $15 billion by 2004.

In 2006, Securitas announced its intention to split the business into separate, specialized security companies.

Securitas Cash Handling Services became Loomis in 2008.

In 2012, Loomis expanded into South America through the acquisition of the Argentinian company Vigencia.

In 2014, Loomis acquired VIA MAT Holding AG. The acquisition enables Loomis to expand its service offering by adding international valuables logistics to the existing Cash in Transit and Cash Management Services lines of businesses.

In 2018 Loomis expands its business within physical foreign exchange (FX) by acquiring CPoR in France.

With revenue of SEK 20 billion in 2019 alone, Loomis operates through 400+ branches worldwide and employs around 22,000 people.

Baltimore Police release footage of officer opening fire after being struck by moving vehicle May 21, 2021