SOLNA, Sweden, Jan. 17, 2020 /PRNewswire/ -- Loomis AB has,
through the wholly owned subsidiary Loomis Sverige AB (Loomis
Sverige), entered into an agreement to acquire 100 percent of Nokas
Värdehantering AB (Nokas Värdehantering), a subsidiary of Nokas
Kontandthåntering AS in Norway.
The enterprise value, i.e. purchase price plus acquired net
debt, is approximately SEK 80
million.
Nokas Värdehantering has approximately 220 employees and annual
net revenue, for the last twelve months ending in September 2019, was approximately SEK 215 million. The current operating margin,
EBITA1), is negative.
The business will be reported in segment Europe and consolidated into Loomis as of
closing of the transaction. Nokas Värdehantering and Loomis Sverige
are both payment institutions under supervision of the Swedish
Financial Supervisory Authority (SFSA). The transaction is subject
to ownership assessment by the SFSA and closing will take place
after ownership approval. The purchase price is payable on
closing.
Including integration costs, the acquisition is expected to have
a marginal dilutive impact on the earnings per share of Loomis in
2020. Thereafter the acquired business is expected to generate
profits.
Nokas CMS AB, a subsidiary of Nokas Värdehantering and deployer
of ATMs in the Nordic countries, is not included in the transaction
and will remain in the Nokas Group.
"The acquisition of Nokas's Swedish cash handling will add
opportunities to further develop our service offerings in the
Swedish market. We are convinced we can add value for our new
customers but also for our current customers in Sweden. We welcome all new employees and
customers to Loomis", says Patrik
Andersson, President and CEO of Loomis.
1) Earnings before interest, taxes and
amortizations
Patrik Andersson
President and CEO
Mobile: +46-76-111-34-00
Email: patrik.andersson@loomis.com
Kristian Ackeby
CFO
Mobile: +46-70-569-69-98
Email: kristian.ackeby@loomis.com
Anders Haker
Chief Investor Relations Officer
Mobile: +1-281-795-8580
Email: anders.haker@loomis.com
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https://news.cision.com/loomis-ab/r/loomis-acquires-nokas-vardehantering-in-sweden,c3010607
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Loomis acquires Nokas
Värdehantering in Sweden
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SOURCE Loomis AB