Loomis AB (LOIMF,LOOMIS.ST), a Swedish cash handling company, on Monday announced an agreement to acquire Hermes Transportes Blindados S.A. through a public tender offer.
The deal values Hermes at approximately SEK 4 billion on a cash and debt-free basis.
The public tender offer for up to 100% of shares is expected to launch in the second or third quarter of 2026, with closing anticipated in the third quarter of 2026.
The acquisition will be fully financed through debt using a committed bridge facility.
The transaction marks the company's entry into the Peruvian market. The acquisition is expected to be immediately accretive to Loomis' operating profit or EBITA and earnings per share.
The company signed a Tender Offer Agreement with CVC Capital Partners plc (CVC.AS) and other minority shareholders representing 99.49% of Hermes' outstanding shares, who have agreed to support and tender their holdings in the offer.
Following completion, Hermes will be reported under Loomis' Europe and Latin America segment and fully consolidated into the group.
Hermes was founded in 1985 and is headquartered in Lima, providing cash management and secure logistics services. The company serves around 1,000 clients and operates 19 branches across Peru with approximately 3,200 employees.
For 2025, Hermes reported revenue of PEN 432 million or approximately SEK 1.2 billion.
The transaction values Hermes at a 6.6x adjusted EBITDA multiple based on 2025 financials.
The company stated that the acquisition supports its strategy to expand in Latin America, citing Peru's strong economic growth, high cash usage, and stable macroeconomic environment.
The company expects growth opportunities through Hermes' strong SME customer base and potential expansion of automated cash-handling solutions under the CIMA brand.
The deal also strengthens Loomis' offering in the mining sector by combining Hermes' domestic logistics capabilities with Loomis International's cross-border services.
On Monday, Loomis AB closed trading 2.01% higher at SEK 436.40 on the Stockholm Stock Exchange.
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