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Loomis Acquires Payments Firm Nokas Värdehantering for SEK 80m
Wednesday 22 January 2020

22 January 2020 – Swedish armoured car company Loomis Sverige AB subsidiary Loomis AB, located in Sweden, has agreed to acquire 100% of payment institution Nokas Värdehantering AB, a subsidiary of Norway based Nokas Kontandthåntering AS for approximately SEK 80m (USD 8.46m), the company said.
The business will be consolidated into Loomis as of closing of the transaction. Nokas Värdehantering and Loomis Sverige are both payment institutions under supervision of the Swedish Financial Supervisory Authority.
The transaction is subject to ownership assessment by the SFSA and closing will take place after ownership approval. The purchase price is payable on closing.
Nokas CMS AB, a subsidiary of Nokas Värdehantering and deployer of ATMs in the Nordic countries, is not included in the transaction and will remain in the Nokas Group.
The acquisition of Nokas's Swedish cash handling will add opportunities to further develop service offerings in the Swedish market.
Nokas Värdehantering has approximately 220 employees and annual net revenue, for the last twelve months ending in September 2019, was approximately SEK 215 m. The current operating margin, EBITA1), is negative.
Details
Date Published: 22/01/2020
Target: Nokas V, ärdehantering
Country: Sweden
Deal Size: 8.46m (USD)
Sector: Banking/Financial Services
Type: Corporate acquisition
Financing:
Status: Agreed
Vendor: Nokas Kontandth, åntering
Buyer: Loomis Sverige
Comment:


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