Loomis expands into International Services by acquiring Via Mat Group

Via Mat acquisition enables Loomis the entry in new markets and to create opportunities for further growth in new markets

Loomis, one of the leading cash handling companies, has entered into an agreement to acquire 100 per cent of the shares in Via Mat Holding AG (“Via Mat”). Via Mat is based in Zurich, Switzerland, and is one of the world’s leading companies in international valuables logistics. The enterprise value is approximately CHF 200 million. The closing of the acquisition is subject to relevant regulatory approval and other customary closing conditions. The target closing date for the transaction is expected to be no later than April 30, 2014. The purchase price is payable upon closing.

The acquisition enables Loomis to expand its service offering by adding International Services to the existing Cash in Transit and Cash Management Services lines of businesses. The International Services consist of three types of operations; cross border transportation of cash and precious metals, storage of valuables and general logistic solutions. Furthermore, as a result of Via Mat’s position in the Swiss cash handling market, the acquisition will make Loomis the market leader in cash handling in Switzerland.

The acquired annual revenue is approximately CHF 290 million, whereof approximately CHF 240 million relates to International Services and CHF 50 million relates to the domestic Swiss cash handling operations. Via Mat and its subsidiaries have about 1,000 employees with presence in Asia, South America, the Middle East, US and Europe. The acquisition will give Loomis access to several new geographies and add new growth opportunities.

“This acquisition is a perfect strategic fit for Loomis, adding International Services as an important piece in its service offering. In addition, this take over creates opportunities for further growth in current as well as in new markets. We are very pleased to add this business to our Group”, says Jarl Dahlfors, President and CEO of Loomis.

Loomis, headquartered in Stockholm (Sweden), is a specialist at creating an efficient cash flow in society. The company offers comprehensive solutions at all levels of society including financial institutions, retailers, other commerce related business, and the public sector. Its 20,000 employees operate at almost 400 branch offices spread across 16 countries.

www.loomis.com/en/

Quelle: LogEastics
Portal: www.logistik-express.com