News

Tidel named top performer in cash management, signs distribution deal with Loomis

April 8, 2009

CARROLLTON, Texas — Tidel Engineering L.P. has been named the Top Cash Management Performer in the 2009 Convenience Store Decisions brand preference study.

According to a news release, the study polled 65 decision makers from convenience store chains about the sales and product performance of their cash management providers. Survey questions included which cash management company offers the most effective sales program, the best quality products and the best overall supplier. Convenience Store Decisions announced the survey results in its March 2009 Reader's Choice issue.

"Winning the Best Supplier by a margin of 30 percent over the second place finisher, while very gratifying, is now a history lesson. It provides us a benchmark to improve upon in the future," said Mark Levenick, president and chief executive of Tidel.

In addition to the Best Supplier award, Tidel also announced that it has signed an exclusive distribution deal with Loomis Armored that allows Loomis to deploy the Sentinel electronic cash management systems as part of the Loomis SafePoint product line in the United States.

While Loomis will continue to provide service for SafePoint legacy customers with installed equipment from different manufacturers, Loomis will retain exclusive rights as the sole CIT company to deploy Tidel's Sentinel electronic cash management safe in the U.S. market. Tidel also will continue to provide service for Sentinel legacy customers with CIT services provided by other companies.

In 2008, Loomis added expedited deposit credit services to the SafePoint product line through its partnership with over a dozen participating bank partners. This capability is enabled through the use of the proprietary Loomis Cash Position Report Web-based cash reporting tool. With this feature, SafePoint customers can gain access to their funds much more rapidly than with traditional secure cash transport services. Retailers are able to earn credit for their cash before it exits the physical location.

"The combination of Loomis and Tidel represent the largest geographic coverage and the most advanced hardware and software solutions available," said Mark K. Levenick, chief executive of Tidel. "This partnership will add significant value to SafePoint customers."

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