Loomis Announces Exclusive Distribution Agreement with Tidel for SafePoint® Product Line

Loomis, the international leader in cash handling services, and Tidel Engineering, L.P., the world leader in Cash Management Systems and Robbery Prevention products, today announced an exclusive agreement for Tidel to manufacture products and services for Loomis’ SafePoint® product line. While Loomis will continue to provide service for SafePoint® legacy customers with installed equipment from different manufacturers, Loomis will retain exclusive rights as the sole CIT company to deploy Tidel’s leading edge Sentinel™ electronic cash management safe in the US market.

Launched in early 2005, SafePoint® provides a secure, comprehensive cash handling solution to retailers and other commercial enterprises. SafePoint® integrates armored transport, cash processing services, an electronic safe, and electronic reporting while facilitating expedited deposit credit in an end-to-end cash management solution. Retailers who have deployed SafePoint® report immediate ROI, citing stronger security, reduced cash handling costs, and improved operating efficiencies.
In 2008, Loomis added expedited deposit credit services to the SafePoint® product line through its partnership with over a dozen participating bank partners. With this feature, SafePoint® customers can gain access to their funds much more rapidly than with traditional secure cash transport services. Retailers are able to earn credit for their cash before it exits the physical location.

“The combination of Loomis and Tidel represent the largest geographic coverage and the most advanced hardware and software solutions available,” said Mark K. Levenick, CEO of Tidel Engineering, LP. “This partnership will add significant value to SafePoint® customers.”

According to Lars Blecko, CEO “with over 1300 additional units deployed in 2008, sales revenue from SafePoint® grew substantially, we expect demand for this product to continue to increase, as retailers seek solutions such as SafePoint® that are proven to increase their bottom line. And Loomis is excited to now provide its SafePoint® customers with one of the most recognized names in cash handling technology through Tidel and its Sentinel product line.”