The Brink’s Co. (NYSE: BCO) is seeking to further expand in South America with the acquisition of Maco Transportadora de Caudales S.A., a money management operator, for approximately $209 million in cash.
Maco provides secure transportation logistics, insurance, and security services for the cash management and industry. The Buenos Aires, Argentina-based target has a fleet of more than 150 armored vehicles used to protect financial assets while in transit. Maco is also capable of managing the transfer of funds by air for banks and other financial institutions.
“Accelerating profitable growth through accretive acquisitions is a key element of our three-year strategic plan,” states Brink’s CEO Doug Pertz. “This acquisition clearly demonstrates our commitment to executing on that plan in South America, our fastest growing and most profitable segment."
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.
Some investors are targeting Latin American businesses because of the downturn in the commodity cycle, where lower GDP growth expectations in many countries have resulted in more favorable valuations. Other cross-border deals include: Australis Partners raising a debut fund to make control investments Mexico, Colombia, Peru and Chile; KPS Capital Partners’ buying French metal abrasive manufacturer WHA Holding SAS; and European private equity group EQT buying Dorner Manufacturing Corp.