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Browne Jacobson advises Loomis on £18.2m acquisition of cash logistics business

1 June 2015

Browne Jacobson has advised Loomis ABs UK subsidiary on the £18.2m acquisition of the retail cash handling operations from Cardtronics UK.

Loomis provides an international secure cash logistics service for banks, multi-site retailers and other commercial enterprises through more than 350 branches in over 20 countries including the US, Sweden, Norway, Finland, Denmark, UK, France, Austria, Slovenia, Slovakia, Switzerland, Spain, and Portugal.

Cardtronics, whose head office is in Bradford and operates through 14 regional depots, handles over 1,000,000 retail collections each year and is one of the largest cash carriers in the UK.

The acquisition, which will see the majority of personnel transfer under TUPE regulations, will enable Loomis to expand its UIK client base and further penetrate the retail sector.

The Browne Jacobson team consisted of Corporate Finance Partner Richard Cox, Suki Tonks (property), Sarah Hooton (employment) and client partner Caroline Green.

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