April 14 - Loomis AB has entered into an agreement to acquire 100 percent of the shares in Zurich-based VIA MAT Holding AG, which has an enterprise value of approximately CHF200 million (USD227.3 million)
The acquisition includes all of VIA MAT's operational and legal entities, and will enable Loomis to expand its service offering by adding international services to its existing cash in transit and cash management services business sectors, said the company.
"The board of directors and the members of the executive committee are convinced that they have found an optimal new owner in Loomis, which will guarantee a successful and sustained future for the VIA MAT Group," said president of the board of the VIA MAT Group, Victor Moser, in a statement.
President and ceo of Loomis, Jarl Dahlfors, also commented on the purchase: "This acquisition is a perfect strategic fit for Loomis, adding international services as an important piece in Loomis' service offering. In addition, this acquisition creates opportunities for further growth in current as well as in new markets."
Moser reassured that Loomis does not plan to make any immediate changes, which would have any effect on its current cooperation with customers.
The closing of the acquisition is subject to relevant regulatory approval and other customary closing conditions, and the target closing date for the transaction is expected to be no later than April 30, 2014.
VIA MAT has experience in handling complex projects, bulky shipments and heavy cargo loads, and offers international project shipping in Brazil, France, Switzerland and USA.