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.
Forward Looking Statements
This release contains forward-looking information. Words such as "anticipate," "assume," "estimate," "expect," “target” "project," "predict," "intend," "plan," "believe," "potential," "may," "should" and similar expressions may identify forward-looking information. Forward-looking information in these materials includes, but is not limited to the acquisition of Temis and the impact on the Company’s results. Forward-looking information in this document is subject to known and unknown risks, uncertainties and contingencies, which are difficult to predict or quantify, and which could cause actual results, performance or achievements to differ materially from those that are anticipated. These risks, uncertainties and contingencies, many of which are beyond our control, include, but are not limited to: our ability to improve profitability and execute further cost and operational improvement and efficiencies in our core businesses; our ability to improve service levels and quality in our core businesses; market volatility and commodity price fluctuations; seasonality, pricing and other competitive industry factors; our ability to maintain an effective IT infrastructure and safeguard confidential information; risks associated with operating in foreign countries, including changing political, labor and economic conditions, regulatory issues, currency restrictions and devaluations, restrictions on and cost of repatriating earnings and capital, and restrictive government actions, including nationalization; labor issues, including negotiations with organized labor and work stoppages; the strength of the U.S. dollar relative to foreign currencies and foreign currency exchange rates; our ability to complete the Temis acquisition, achieve expected synergies and successfully integrate the business; our ability to obtain appropriate insurance coverage, positions taken by insurers relative to claims and the financial condition of insurers; safety and security performance and loss experience; the nature of hedging relationships and counterparty risk; access to the capital and credit markets; the outcome of pending and future claims, litigation, and administrative proceedings; public perception of our business and reputation; changes in estimates and assumptions underlying critical accounting policies; the promulgation and adoption of new accounting standards, new government regulations and interpretation of existing standards and regulations. This list of risks, uncertainties and contingencies is not intended to be exhaustive. Additional factors that could cause our results to differ materially from those described in the forward-looking statements can be found under "Risk Factors" in Item 1A of our Annual Report on Form 10-K for the period ended December 31, 2016, and in our other public filings with the Securities and Exchange Commission. The forward-looking information included in this document is representative only as of the date of this document and The Brink's Company undertakes no obligation to update any information contained in this document.
Contact: Investor Relations 804.289.9709