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Brink's Co. To Buy Maco Transportadora De Caudales For About $209 Mln

Brink's Co. (BCO) said that it has agreed to purchase Maco Transportadora de Caudales S.A. for about $209 million in cash, with the final purchase price subject to post-closing adjustments and foreign exchange translation.

The transaction is expected to close within 30 days, subject to customary closing conditions. Based in Buenos Aires, Maco's cash-in-transit and money processing operations will be integrated with Brink's existing operations in Argentina. Over the last 12 months, Maco generated revenue of approximately $90 million and adjusted EBITDA of approximately $24 million.

The acquisition is expected to be significantly accretive to net income in 2019, and slightly accretive in 2017.

The company will update its 2019 targets, including the impact of acquisitions, when it reports second-quarter earnings on July 26.

by RTT Staff Writer

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