German-based Wincor Nixdorf has acquired Brink’s CiT operations in the Netherlands,expanding its cash management capacities in the Netherlands. As a result of the acquisition, the new Rotterdam-based SecurCash will also profit from synergies from the business with banks and retail companies.
The primary objective of the takeover is to provide one-stop cash management and cash logistics services to leading Dutch banks that have signed long-term agreements for them.
Wincor Nixdorf is acquiring the business, infrastructure and employees of Brink’s Netherlands and will integrate them with the business of SecurCash, its subsidiary specialized in cash management and cash logistics. In the last fiscal year, both companies together already generated a business volume of €70 million. Once the acquisition is complete and activities are combined, Wincor Nixdorf will provide around 40 percent of cash management and logistics services in the Netherlands.
The acquisition will produce the necessary capacity expansion for the provision of cash handling services to four major banks. In addition, it will bring together two companies that perfectly complement each other. These opportunities will be created by the broad customer base that Brink’s Netherlands has among Dutch retailers. After the acquisition has been completed, the company will cover the entire cash logistics chain in the cash centers located throughout the Netherlands and have more than 600 employees.
The Dutch anti-trust authority (Autoriteit Consument en Markt – ACM) approved the acquisition on September 15. Brink’s Netherlands was spun off by its American parent company in 2014 and has operated since then as an independent company.
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