Brink's goes cross-border to acquire Brazilian cash-handling operation
The Brink’s Co. (NYSE: BCO) has agreed to purchase Rodoban, a Brazilian-based cash handling and money management operation, for approximately $145 million.
Rodoban offers a variety of money handling needs, including: cash-in-transit, money processing, and ATM services. The target services customers primarily in Brazil, and generates revenues of nearly $80 million per year. Rodoban is expected to expand Brink’s service reach, improve its route density and create some cost synergies. The deal is expected to close in the second quarter of 2018.
“The Rodoban acquisition is another demonstration of our commitment to accelerating profitable growth by making acquisitions in core businesses in existing markets,” states Brink’s CEO Doug Pertz. “Once completed, we expect this transaction to be accretive to net income within 12 months. We have a strong pipeline of additional targets, and plan to invest approximately $400 million per year to acquire similar businesses in 2018 and 2019.”
Brink’s is a global provider of secure logistics, cash-in-transit and ATM services for a variety of clients. The buyer’s services are used by banks, retailers, government agencies, jewelers, financial institutions and other commercial operations. Brink’s, headquartered in Dallas, has operations that span across approximately 40 countries. In July 2017, Brink’s acquired a similar South American business for approximately $209 million in cash.