RICHMOND, Va., Jan. 07, 2019 (GLOBE NEWSWIRE) -- The Brink’s Company (NYSE:BCO), the global leader in total cash management, route-based secure logistics and payment solutions, today announced that it has completed its acquisition of Brazil-based Rodoban for approximately $130 million in cash. The cash consideration has been hedged to allow local servicing of the debt and to maximize the tax benefits available in both Brazil and the United States. Rodoban provides cash-in-transit, money processing and ATM services primarily to customers in southeastern Brazil.

Over the last twelve months, Rodoban generated revenue of approximately $78 million and adjusted EBITDA of approximately $17 million. The acquisition is expected to be accretive to net income in 2019.

Doug Pertz, Brink’s president and chief executive officer, said: “The acquisition of Rodoban will expand the service reach of our current operations in Brazil and increase our route density. We continue to expect cost and operational efficiencies to result in a post-synergy purchase multiple between 6.0X and 6.5X.” Rodoban is the company’s tenth acquisition since March of 2017.

About The Brink’s Company
The Brink’s Company (NYSE:BCO) is the global leader in total cash management, route-based secure logistics and payment solutions including cash-in-transit, ATM services, cash management services (including vault outsourcing, money processing and intelligent safe services), and international transportation of valuables. Our customers include financial institutions, retailers, government agencies, mints, jewelers and other commercial operations. Our global network of operations in 41 countries serves customers in more than 100 countries. For more information, please visit our website at www.Brinks.com