RICHMOND, Va., Dec. 11, 2018 (GLOBE NEWSWIRE) -- The Brink’s Company (NYSE:BCO), the global leader in total cash
management, route-based secure logistics and payment solutions, today announced that it has received antitrust approval of its
planned acquisition of Brazil-based Rodoban for approximately $130 million in cash. The acquisition is expected to close by
year-end or shortly thereafter. Based in the state of Minas Gerais, Rodoban provides cash-in-transit, money processing and
ATM services primarily to customers in southeastern Brazil.
Over the last twelve months, Rodoban generated revenue of approximately $78 million and adjusted EBITDA of approximately $17
million. Rodoban is expected to be accretive to net income in 2019.
Doug Pertz, Brink’s president and chief executive officer, said: “The integration of Rodoban with our current operations
in Brazil will expand our service reach, improve our route density and yield other significant cost synergies. We will move
quickly to achieve the anticipated cost and operational efficiencies, which we expect to result in a post-synergy purchase multiple
of approximately 6.5X.”
When the Rodoban transaction closes, Brink’s will have completed nine acquisitions since March of 2017, for a total of $1.05
billion.
About The Brink’s Company
The Brink’s Company (NYSE:BCO) is the global leader in total cash management, route-based secure logistics and payment solutions
including cash-in-transit, ATM services, cash management services (including vault outsourcing, money processing and intelligent
safe services), and international transportation of valuables. Our customers include financial institutions, retailers, government
agencies, mints, jewelers and other commercial operations. Our global network of operations in 41 countries serves customers
in more than 100 countries. For more information, please visit our website at www.Brinks.com or call 804-289-9709.
Forward Looking Statements
This release contains forward-looking information. Words such as "anticipate," "assume," "estimate," "expect," “target” "project,"
"predict," "intend," "plan," "believe," "potential," "may," "should" and similar expressions may identify forward-looking
information. Forward-looking information in these materials includes, but is not limited to information regarding the impact of the
Rodoban acquisition on the Company’s results.
Forward-looking information in this document is subject to known and unknown risks, uncertainties and contingencies, which are
difficult to predict or quantify, and which could cause actual results, performance or achievements to differ materially from those
that are anticipated. These risks, uncertainties and contingencies, many of which are beyond our control, include, but are not
limited to: our ability to improve profitability and execute further cost and operational improvement and efficiencies in our core
businesses; our ability to improve service levels and quality in our core businesses; market volatility and commodity price
fluctuations; seasonality, pricing and other competitive industry factors; investment in information technology and its impact on
revenue and profit growth; our ability to maintain an effective IT infrastructure and safeguard confidential information; our
ability to effectively develop and implement solutions for our customers; risks associated with operating in foreign countries,
including changing political, labor and economic conditions, regulatory issues, currency restrictions and devaluations,
restrictions on and cost of repatriating earnings and capital, impact on the Company’s financial results as a result of
jurisdictions determined to be highly inflationary, and restrictive government actions, including nationalization; labor issues,
including negotiations with organized labor and work stoppages; the strength of the U.S. dollar relative to foreign currencies and
foreign currency exchange rates; our ability to identify, evaluate and complete acquisitions and other strategic transactions and
to successfully integrate acquired companies; costs related to dispositions and market exits; our ability to obtain appropriate
insurance coverage, positions taken by insurers relative to claims and the financial condition of insurers; safety and security
performance and loss experience; employee, environmental and other liabilities in connection with former coal operations, including
black lung claims; the impact of the Patient Protection and Affordable Care Act on legacy liabilities and ongoing operations;
funding requirements, accounting treatment, and investment performance of our pension plans, the VEBA and other employee benefits;
changes to estimated liabilities and assets in actuarial assumptions; the nature of hedging relationships and counterparty risk;
access to the capital and credit markets; our ability to realize deferred tax assets; the outcome of pending and future claims,
litigation, and administrative proceedings; public perception of our business, reputation and brand; changes in estimates and
assumptions underlying critical accounting policies; the promulgation and adoption of new accounting standards, new government
regulations and interpretation of existing standards and regulations.
This list of risks, uncertainties and contingencies is not intended to be exhaustive. Additional factors that could cause our
results to differ materially from those described in the forward-looking statements can be found under "Risk Factors" in Item 1A of
our Annual Report on Form 10-K for the period ended December 31, 2017, and in our other public filings with the Securities and
Exchange Commission. The forward-looking information included in this document is representative only as of the date of this
document and The Brink's Company undertakes no obligation to update any information contained in this document.
Contact:
Investor Relations
804.289.9709
