RICHMOND, Va., April 20, 2020 (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 G4S plc (LSE: GFS) cash operations in Cyprus, the Czech Republic and Romania.
On February 26, Brink’s announced the planned acquisition of G4S cash operations in 17 markets, with closings planned in multiple phases throughout 2020. To date, the company has completed its acquisition of G4Si, a global provider of secure logistics and storage services, and G4S cash operations in seven markets, including the three closings announced today and prior closings in the Netherlands, Belgium, Ireland and Hong Kong. The company expects to pay approximately $835 million for the entire transaction, including approximately $300 million to complete remaining acquisitions in ten additional markets.
In 2019, the G4S businesses being acquired generated combined pro forma revenue of approximately $800 million and adjusted EBITDA of approximately $115 million, nearly 65 percent of which is attributable to the acquisitions completed to date. Upon completion, the entire transaction is expected to add more than $135 million in annualized EBITDA, including expected annualized cost-based synergies of $20 million. Approximately 90 percent of these annualized cost synergies are related to the businesses acquired to date and are expected to be achieved by the end of 2020. The acquisition is being financed with cash and debt from the company’s recently increased credit facility.
Doug Pertz, president and chief executive officer of Brink’s, said: “We welcome our new employees and look forward to serving our new customers. Our team looks forward to implementing our proven Strategy 1.0 organic growth initiatives, supplemented by the introduction of new high-margin, less capital-intensive solutions that are an integral part of Strategy 2.0 and our 3-year plan. I am confident that we will emerge from the near-term uncertainties of the Covid-19 pandemic in a strong position to execute our strategic initiatives and drive additional revenue and profit growth across a larger global footprint that includes the acquired G4S markets.”
About The Brink’s Company
The Brink’s Company (NYSE:BCO) is the global leader in total cash management, secure route-based 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 45 countries serves customers in more than 100 countries. For more information, please visit our website at www.Brinks.com or call 804-289-9709.
