All agreed loans

Sweden. Loomis AB

Date of agreement: 16 Dec 2014
Country: Sweden
Customer: Loomis AB
Amount in CHF: CHF 90 million
Amount in EUR: EUR 75 million
Maturity: 8 years
NACE sector / loan type: Financial intermediation, except insurance and pension
Business area: Industries and services

Project

The loan has been provided to the cash handling company Loomis AB in Sweden to finance part of the acquisition of the Swiss valuables logistics firm VIA MAT Holding AG. The acquisition enables Loomis to expand its range of services to a new business segment consisting of international services. The international services concerned consist of cross-border transportation of cash and precious metals and general logistic solutions including the acquired company Viamat Artcare working with packaging, transportation and storing of art.

As a result of VIA MAT’s strong position in the Swiss cash handling market, the acquisition makes Loomis the market leader in cash handling in Switzerland. In addition, the acquisition gives Loomis a presence in four new strategic markets: Hong Kong, the United Arab Emirates, Brazil and Germany.

Loomis specialises in creating an efficient cash flow in society. The company operates in 20 countries and has 21,000 employees and about 400 branch offices.

Fulfilment of NIB's mandate

Competitiveness:
Thorough the acquisition of VIA MAT, Loomis gains access to several new geographical areas, which are likely to increase the company’s growth opportunities. The expected immediate synergies of the acquisition will occur through reductions in transportation in those countries where both companies currently operate.

Increased business opportunities in NIB member countries are likely to be generated from the distribution chain of dollars, handling of precious metals and storage, and packaging of gold coins. Acquisition is a fast method for a company to expand into new markets. However, the wider impact of the loan in the Nordic–Baltic region is limited, given that the acquisition does not involve any substantial investments in NIB member countries.

Environment:
Some lowering of CO2 emissions will occur as a consequence of the merger, as transport in Switzerland will be coordinated, resulting in fewer transport journeys. Loomis has ongoing test programmes investigating methods of decreasing CO2 emissions from transport services. The programmes include educating drivers about e.g. acceleration and speed, which can result in fuel savings of up to 10%.

Sustainability summary

There is no significant potential for negative environmental impact connected to the implementation of the project.

Press release

NIB finansierar Loomis förvärv av VIA MAT