VISCHER advised Loomis.
Loomis, a Sweden-based and listed provider of cash handling services for banks, retailers and other commercial clients, has, through its wholly owned subsidiary Loomis Schweiz AG (Loomis Switzerland), entered into an agreement to acquire certain assets and liabilities of SecurePost AG (SecurePost), a company of the Swiss Post Group.
The transaction scope includes all relevant customer contracts, employees and operational assets. New commercial agreements with other entities of the Swiss Post Group have been agreed and will be in effect as of closing of the transaction. The enterprise value is approximately CHF 17.5 million.
SecurePost has a nationwide footprint in Switzerland and approximately 440 employees. Revenues during 2020 were approximately CHF 66 million. The business contributes, in addition to traditional cash in transit (CIT) and cash management services (CMS), with an installed base of some 1,300 smart safes that will be integrated into Loomis’ Swiss SafePoint portfolio.
Loomis offers safe and effective comprehensive solutions for the distribution, handling, storage and recycling of cash and other valuables. Loomis customers are banks, merchants and other operators. Loomis operates through an international network of more than 400 branches in more than 20 countries. Loomis employs around 23,000 people and had revenue in 2020 of approximately SEK 18.8 billion. Loomis is listed on Nasdaq Stockholm Large-Cap list.
The VISCHER team was led by Benedict F. Christ (Picture) and also comprised Flavio Langenegger, Michel Stübi, Florian Angstmann, Christian Schneiter, Aleksandra Simic, Christoph Niederer, Marc Prinz, Gian Geel, Klaus Neff and Adrian Gautschi.
Involved fees earner: Benedict Christ – VISCHER AG; Adrian Gautschi – VISCHER AG; Gian Geel – VISCHER AG; Flavio Langenegger – VISCHER AG; Klaus Neff – VISCHER AG; Christoph Niederer – VISCHER AG; Marc Prinz – VISCHER AG; Christian Schneiter – VISCHER AG; Michel Stübi – VISCHER AG;
Law Firms: VISCHER AG;
Clients: Loomis AB;