ON THE COVER
Guardsman expanding to Cayman
Published:Friday | December 30, 2022 | 12:46 AM
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Private security provider Guardsman Group is expanding to the Cayman Islands, making it at least the sixth regional market in which it will have a presence outside of its home market of Jamaica. The Financial Gleaner understands that the company...
Private security provider Guardsman Group is expanding to the Cayman Islands, making it at least the sixth regional market in which it will have a presence outside of its home market of Jamaica.
The Financial Gleaner understands that the company has forged a partnership with Caymanian financial outfit, Apex Group, to enter the market.
Managing Director of Guardsman Group Vinay Walia declined to comment on the development, but had previously telegraphed the company’s intent to grow its footprint.
“We intend to be the largest security technology service provider in the Caribbean,” Walia said at the recent launch of Guardsman Metaverse.
Guardsman was started in 1977 and has grown into a diversified group of 13 companies covering static and roving security, money courier services, electronic surveillance and security technology. In addition, the company runs Hope Zoo, Konoko Falls, Nature’s Paradise and Puerto Seco Beach as attractions; Orkin Jamaica pest control; and MOPS sanitation solutions.
Its Caribbean operations are sited in St Vincent & the Grenadines, St Lucia, Barbados, The Bahamas, and Bermuda.
Guardsman Cayman became a member of the Cayman Chamber of Commerce sometime in 2022, and is one of 11 listings, according to the chamber’s website.
The Financial Gleaner could not ascertain the size of the Cayman Islands security industry, but various sources indicate that the Royal Cayman Islands Police Service numbers just over 400, with an undetermined number of volunteers, or specials, in a population of around 70,000 people.
Guardsman also has a website that is up and running, which lists alarm systems, closed-circuit TV systems, security guards and vehicle tracking as services being offered. A source told the Financial Gleaner that the company plans to roll out its full services in the coming months.
Guardsman Chairman Dr Kenny Benjamin also confirmed the expansion plans, but Walia was unwilling to speak about the details.
“We are doing whatever is necessary to put together the plan for Cayman. We’ve set up a company, but that’s where it is until we have a definite plan which allows us to make that announcement,” Walia said.
David Stephens of Apex Group also disclosed the partnership in a LinkedIn post.
“Now, together we are positioned to bring a new experience and dimension to security services in Cayman, with novel, best-in-class technologies and unmatched technical expertise,” Stephens said.