Loomis expands in Germany by acquiring Ziemann

Loomis AB has, through a wholly owned subsidiary, entered into an agreement to acquire 100 percent of Ziemann Sicherheit Holding GmbH (Ziemann). Ziemann conducts primarily domestic cash handling services. In addition, Ziemann also carries out security services as well as trading activities within the wholesale and retail market for currencies and precious metals. The enterprise value, i.e. purchase price plus acquired net debt, is approximately EUR 160 million, corresponding to approximately SEK 1,640 million. Ziemann has approximately 2,700 employees and annual net revenue in 2018 was