Sweden. Loomis AB
|Date of agreement:||06 Sep 2022|
|Amount in SEK:||SEK 600 million|
|Amount in EUR:||EUR 55.9 million|
|NACE sector / loan type:||Other business activities|
The loan has been provided for digitalisation investments of the cash handling company Loomis Group during 2021-2025.
Loomis offers market leading solutions for the distribution, handling, storage and recycling of cash and other valuables through its traditional business segments – cash-in-transit (CIS) and cash management services (CMS).
The investments in digitalisation aim to facilitate the company’s further growth by transforming Loomis into a more digital, client-centric, and higher-value company. The group is making significant investments in, for example, setting up new data centres to enable new cloud-based digital services, data analytics tools, enterprise resource planning and ATM management solutions as well as new anti-money laundering platforms.
This is NIB’s second loan agreement with Loomis. The previous loan, signed in 2014, financed its business expansion through the acquisition of a Swiss valuables’ logistics firm.
Loomis operates over 400 branch offices in more than 20 countries around the world, with headquarters in Stockholm. The company employs some 25,000 people worldwide.
Fulfilment of NIB's mandate
Although the amount of cash in circulation is still increasing in some parts of Europe, there is a growing need for digitalisation in the financial sector.
During 2021-2025, Loomis plans to carry out significant investments in IT solutions and digitalisation projects. The investments will enable the company’s digital transformation and allow Loomis to offer new services that, in the medium and long term, will complement its traditional offerings.
Furthermore, given that Loomis is an integral part of the financial system in the Nordics, further productivity increases might be passed onto other market participants.
No sustainability risks have been identified in relation to the digitalisation activities.