Source: Wincor Nixdorf
By acquiring Brink’s CiT operations in the Netherlands, Wincor Nixdorf is expanding its cash management capacities in the Netherlands.
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. As a result of the acquisition, the new SecurCash will also profit from synergies from the business with banks and retail companies. 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.
One of Wincor Nixdorf’s strategic goals is to expand its business with ambitious and managed services. "As a partner of banks and retailers, our cash handling services will be seamlessly linked to our IT services to operate systems and IT infrastructures and add profitable services to our value chain end-to-end," said Eckard Heidloff, the President and CEO of Wincor Nixdorf AG. Bank and retail customers will profit from process optimization of a provider of hardware, software and services along the entire cash logistics chain, Heidloff said.
The Dutch anti-trust authority (Autoriteit Consument en Markt - ACM) approved the acquisition on September 15, 2015. Brink’s Netherlands was spun off by its American parent company in 2014 and has operated since then as an independent company.
SecurCash, a subsidiary of Wincor Nixdorf, has been providing cash handling services in the Dutch market since 2006. The company is based in Rotterdam.