Loomis undertakes acquisition in Spain
Loomis has acquired the Spanish cash handling company, Efectivox, with 500 employees and 70 Cash in Transit vehicles, as well as eleven branches out of which six have cash processing. The company had net sales of approximately MSEK 130 (13.4 M€) and produced a negative result in 2010. The sellers are comprised of three savings banks as well as the Spanish company Grupo Norte. Prior to the acquisition, Loomis’ Spanish subsidiaries had 2100 employees, approximately 380 Cash in Transit vehicles, 27 branches. The purchase price is approximately MSEK 160 (17.5 M€). As Efectivox, in