Loomis acquires Cobelguard in Belgium
Loomis AB has entered into an agreement to acquire 100 per cent of the shares in Cobelguard CIT NV. Cobelguard conducts domestic cash handling services and is based in Ghent, Belgium. The enterprise value, i.e. purchase price plus acquired net debt, is approximately EUR 12 million, corresponding to approximately SEK 114 million. There is also an agreed possible future earn-out of maximum EUR 5 million based on the future financial performance. Cobelguard has approximately 170 employees and annual revenue in 2016 was approximately EUR 12 million. The business will be reported in