Brink's spins off security business

By Lisa Kerner

Charlotte, N.C., Nov. 3 - Brink's Co. said it completed the spinoff of Brink's Home Security Holdings, Inc. on Friday.

Brink's Home Security began trading Monday on the New York Stock Exchange under the symbol "CFL."

The separation process began in February 2008.

Brink's Home Security had been an operating unit of Brink's for over 25 years, according to a company news release.

"As a result of our spinoff, I believe that we are better positioned to pursue growth opportunities with a dedicated and focused management team, a more efficient capital structure, and an independently traded stock," Brink's Home Security president and chief executive officer Robert B. Allen said in the release.

Newly appointed directors to the Brink's Home Security board include Allen and:

• Carl S. Sloane, a private consultant;

• John S. Brinzo, retired chairman of Cleveland-Cliffs Inc.;

• Lawrence J. Mosner, retired chairman and CEO of Deluxe Corp.: and

• Carroll R. Wetzel Jr., a retired investment banker.

The directors also resigned from the board of Brink's, the release said.

Brink's Home Security provides security system monitoring services for residential and commercial properties. The company is located in Irving, Texas.

Richmond, Va.-based Brink's continues to operate its secure transportation and cash management unit, Brink's Inc., following the spinoff.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.