The Brink’s Co. acquires UK company for $860M
The transaction is expected to close by Dec. 31.
Henrico County-based secure transportation and logistics company The Brink’s Co. will purchase United Kingdom-based security and cash management company G4S plc for $860 million, the company announced Wednesday. This will be the company’s 14th acquisition since March 2017.
Brink’s primarily offers secure cash transit via armored trucks and other cash management services to companies in the financial, retail and jewelry industries. It also services government agencies and mints. Brink’s operates in 41 countries and serves customers in 100 countries, employing more than 62,000 people.
The acquisition will be completed by the company well-known for its armored trucks in multiple phases, but more than half of the value is expected to close within 60 days. Despite licenses and approval pending, the company expects the deal to fully close by Dec. 31.
The acquisition includes cash management operations in international markets in European, Asian and South American countries.
“This transaction represents our largest acquisition to date and further demonstrates our disciplined approach to value-added capital allocation,” Brink’s President and CEO Doug Pertz said in a statement. “It positions us to extend our proven Strategy 1.0 organic revenue and operating profit growth initiatives into 14 new markets including cash-intensive, emerging growth markets in Asia and Eastern Europe.”
On May 31, 2019, Brink’s acquired Dunbar Armored Inc. — another notable armored vehicle company — for $519 million.