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Loomis expands into International Services by acquiring VIA MAT Group


Friday, 4 Apr 2014 02:00am EDT 

Loomis AB:Acquires 100 percent of the shares in VIA MAT Holding AG.VIA MAT is a Switzerland-based company active in international valuables logistics.Enterprise value about 200 million Swiss francs, corresponding to about 1,450 million Swedish crowns.Says the acquired annual revenue is about 290 million francs, whereof about 240 million francs relates to International Services and 50 million francs relates to the domestic Swiss cash handling operations.Will consolidate the domestic Swiss cash handling business into segment Europe.Says International Services will be reported as a new segment.The target closing date for the transaction is expected to be no later than April 30.The aim of the acquisition is to expand Loomis service offering by adding International Services to the existing Cash in Transit and Cash Management Services lines of businesses. 

Company Quote

261.1
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30 Mar 2015