Segulah divests Scan Coin, a provider of cash handling equipment and services
On January 30, 2015, Segulah IV L.P., Rempo AB and minority shareholders signed an agreement to divest 100% of SCAN COIN Holding AB to SuzoHapp. The transaction closed on March 13, 2015.
SCAN COIN is a leading global provider of cash handling equipment and services. The Company is headquartered in Malmö, Sweden, and has manufacturing in Sweden and the UK. SCAN COIN has own sales subsidiaries in 14 countries across Europe, North America and Asia, and is represented through distributors in over 100 countries. The main customer segments include banks, cash-in-transit companies, public transport and retail.
SCAN COIN was acquired by Segulah IV from the Ovin family in November 2010. The Ovin family (via their company Rempo AB) re-invested alongside Segulah IV for a minority shareholding.
During Segulah IV´s ownership, SCAN COIN´s profitability has improved significantly, with EBITA increasing from MSEK 32 in 2010 to MSEK 136 in 2014. This has been achieved through a combination of extensive efficiency improvements, development of new competitive solutions and four strategic add-on acquisitions. In particular, the solutions developed for the new segment Back Office Retail are expected to generate significant growth in the years to come.
“SCAN COIN is today a dynamic, innovative provider of leading edge technical solutions to the global cash handling industry. We are very pleased with the development over the past few years. We think that SuzoHapp will be an excellent new owner for SCAN COIN, allowing the business to continue building on its success”, says outgoing Chairman Mr. Lars Brodd.
Source: Press Release