History
Mr. Wackenhut took his company public in 1967, trading first on the American Stock Exchange, then ultimately, on the New York Stock Exchange. During his stewardship, the organization grew to become the premier security solutions provider in the contract security industry.
During the mid-1960s, Mr. Wackenhut recognized the need to provide specialized services for sensitive U.S. government installations. He formed the division known as Wackenhut Services, Inc. which would go on to become the largest contract security provider to the Federal government. The company’s Consulting and Investigations Division, which was the original service offering back in 1954, would grow to become the quality provider of choice for multinationals, government agencies, and regulators.
The Wackenhut Corporation eventually offered physical security services which soon became the company's primary revenue stream. In the mid-1980s, Mr. Wackenhut saw the need to integrate physical security personnel with electronic security equipment to improve security measures and drive efficiencies in service delivery. This was the forerunner to what is today commonly referred to as integrated security solutions, which Wackenhut still offers today.
In 1984, The Wackenhut Corporation began its nuclear division – Wackenhut Nuclear Services – which was designed to provide quality security services for the nation’s nuclear energy plants. This division now supports more than half of our nation’s commercial nuclear power generating plants.
In its effort to expand outsourcing and diversify the organization, Wackenhut pioneered the privatized corrections and employee leasing industries, but would eventually divest those divisions in 2002 when the Danish-based Group 4 Falck purchased the outstanding shares of The Wackenhut Corporation. The Wackenhut Corporation continued to operate as a U.S. subsidiary of Group4 Falck until 2004, when Group 4 Falck merged with Securicor becoming Group 4 Securicor plc.
Today The Wackenhut Corporation continues to lead the contract security industry in the United States as a subsidiary of Group 4 Securicor plc (www.group4securicor.com) The company holds steadfast to the principles of professionalism and integrity, and encouraging leadership with an entrepenuerial spirit, as instilled by our founder, George R. Wackenhut.
