HOUSTON - Loomis has announced the acquisition of Security Services Northwest Inc., a Seattle-based cash-handling services provider. Terms of the transaction, which will be effective April 30, were not announced.
Loomis, formerly known as Loomis, Fargo & Co. in the United States and Securitas in Europe, is an international leader in cash handling services with annual revenue of approximately $1.6 billion. The company's operating network consists of more than 200 locations in the U.S. and Puerto Rico, in addition to 240 locations in Western Europe. Security Services Northwest Inc. is a privately held entity operating in western Washington.
"We have long respected SSNW as a worthy competitor," said Cal Murri, Loomis U.S. president. "Our policy toward acquisition has always been very selective, but this is a natural fit. The combination will enable meaningful synergies in Seattle and Tacoma, where we have sizable operations, and will allow us to expand our services to the Olympic peninsula."
