Loomis acquires retail cash handling operations in the UK

 
David Ward David Ward – Industrial Tribunal fees In his latest blog for Infologue.com, David Ward of Ward Security discusses the recent  Supreme Court ruling. Read on »
Peter Webster - Chief Executive of Corps Security Peter Webster – Ignoring 50 per cent of the available workforce makes no sense Peter Webster, chief executive of Corps Security, a regular Infologue.com blogger, discusses gender diversity within the private security industry. Read on »
Louise McCree – Effective HR in the security sector Louise McCree, founder of effectivehr, discusses HR's role in the security sector.  Read on »
Sunday, 20 August 2017

Loomis acquires retail cash handling operations in the UK

Loomis AB’s subsidiary in the UK has reached an agreement to acquire the retail cash handling operations from Cardtronics UK as part of Cardtronics strategy to divest of a non-core business.

The purchase price amounts to GBP 18.2 million, including GBP 3.7 million of fixed assets. The purchase price corresponds to approximately SEK 237 million.

The acquired operations have annual revenue of approximately GBP 13.5 million (SEK 176 million) and will add customers within the retail segment. Loomis will also take on a majority of staff and vans whilst Cardtronics will retain a proportion to support their ongoing ATM replenishment business.

The target closing date is July 1, 2015 and the acquisition is expected to have a limited negative impact, due to start-up costs, on earnings per share of Loomis in 2015.

“We have during the last couple of years restructured our UK operations and by working in accordance with the Loomis model we have improved the quality as well as the profitability. Most of the acquired operations will be incorporated into our existing infrastructure. The service capability for our customers will be improved and the efficiency at many branches will be further increased”, says Jarl Dahlfors, President and CEO of Loomis AB.

Loomis Website


Leave a Reply

Your email address will not be published. Required fields are marked *

*

Interconnective Security Products