Rodoban: Brink's Receives Antitrust Approval for Acquisition of Rodoban in Brazil

RICHMOND, Va., Dec. 11, 2018 (GLOBE NEWSWIRE) -- The Brink's Company (NYSE:BCO), the global leader in total cash management, route-based secure logistics and payment solutions, today announced that it has received antitrust approval of its planned acquisition of Brazil-based Rodoban for approximately $130 million in cash. The acquisition is expected to close by year-end or shortly thereafter. Based in the state of Minas Gerais, Rodoban provides cash-in-transit, money processing and ATM services primarily to customers in southeastern Brazil. Over the last twelve months, Rodoban generated revenue of approximately $78 million and adjusted EBITDA of approximately $17 million. Rodoban is expected to be accretive to net income in 2019. Doug Pertz, Brink's president and chief executive officer, said: "The integration of Rodoban with our current operations in Brazil will expand our service reach, improve our route density and yield other significant cost synergies. We will move quickly to achieve the anticipated cost and operational efficiencies, which we expect to result in a post-synergy purchase multiple of approximately 6.5X."When the Rodoban transaction closes, Brink's will have completed nine acquisitions since March of 2017, for a total of $1.05 billion. About The Brink's CompanyThe Brink's Company (NYSE:BCO) is the global leader in total cash management, route-based secure logistics and payment solutions including cash-in-transit, ATM services, cash management services (including vault outsourcing, money processing and intelligent safe services), and international transportation of valuables. Our customers include financial institutions, retailers, government agencies, mints, ...Full story available on Benzinga.com