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Feb. 26, 2020, 10:22 a.m. EST

Brink's Co. to acquire most of the cash operations of G4S for about $860 million

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By Ciara Linnane

The Brink's Co. /zigman2/quotes/203540504/composite BCO -0.89% said Wednesday it has agreed to acquire most of the cash operations of U.K.-based G4S plc /zigman2/quotes/202248409/delayed UK:GFS +1.41% for about $860 million. The Richmond, Va.-based security company said the operations in question generated pro forma revenue of about $800 million in 2019 and operating profit of about $85 million. The deal will add 14 new markets to Brink's network and is expected to boost adjusted 2020 earnings. Those markets are the Netherlands, Malaysia, Romania, Belgium, Ireland, Kuwait, the Czech Republic, the Philippines, the Dominican Republic, Cyprus, Indonesia, Lithuania, Estonia and Latvia. The deal will be financed using cash and debt from an existing credit facility. Brink's is planning to release more details on the deal at an investor day scheduled for June 1 in New York City. Brink's shares were halted for the news, but have gained 2.5% in the last 12 months, while the S&P 500 /zigman2/quotes/210599714/realtime SPX -1.12% has gained 12%.

/zigman2/quotes/203540504/composite
US : U.S.: NYSE
$ 45.52
-0.41 -0.89%
Volume: 887,057
Sept. 18, 2020 4:00p
P/E Ratio
133.18
Dividend Yield
1.32%
Market Cap
$2.30 billion
Rev. per Employee
$55,912
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/zigman2/quotes/202248409/delayed
UK : U.K.: London
193.60 p
+2.70 +1.41%
Volume: 15.07M
Sept. 18, 2020 4:35p
P/E Ratio
177.61
Dividend Yield
0.00%
Market Cap
£2.99 billion
Rev. per Employee
N/A
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/zigman2/quotes/210599714/realtime
US : S&P US
3,319.47
-37.54 -1.12%
Volume: 4.09B
Sept. 18, 2020 5:15p
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