RICHMOND, Va., July 25, 2017 (GLOBE NEWSWIRE) -- The Brink’s Company (NYSE:BCO), the global leader in cash management, secure logistics and security solutions, today announced that it has signed an exclusive agreement to negotiate the purchase of the Temis group of companies in France for approximately $71 million.
Temis provides cash-in-transit, money processing and ATM services primarily to customers in the Paris metropolitan area. Over the last 12 months, the company generated revenue of approximately $50 million. The acquisition is expected to close in the fourth quarter of 2017 and be accretive to net income in its first year as part of Brink’s. Completion of the transaction is subject to customary conditions.
Doug Pertz, Brink’s president and chief executive officer, said: “This transaction is another demonstration of our commitment to accelerating profitable growth by making acquisitions that align closely with our core businesses in existing markets. The integration of Temis with our Paris-based operations will immediately increase our route density and supplement our customer base. We expect to quickly achieve post-integration operational synergies that will result in a purchase multiple of approximately five times adjusted EBITDA.”
Upon completion, Temis will represent the fifth acquisition of 2017 for Brink’s. In March, the company acquired AATI, an armored tractor-trailer business in the U.S. During the second quarter, Brink’s acquired PagFacil, a payments business in Brazil, and LGS, a cash-in-transit business in Chile. In July, the company completed the acquisition of Maco, a cash-in-transit business in Argentina.
About The Brink’s Company
The Brink’s Company (NYSE:BCO) is the world’s premier provider of secure logistics and security solutions including cash-in-transit, ATM services, cash management services (including vault outsourcing, money processing and intelligent safe services), international transportation of valuables, and payment services. Our customers include financial institutions, retailers, government agencies, mints, jewelers and other commercial operations. Our global network of operations in 40 countries serve customers in more than 100 countries. For more information, please visit our website at www.Brinks.com or call 804-289-9709.
