Loomis Expands into Peru with Acquisition of Hermes Transportes Blindados

Loomis Expands into Peru Through Strategic Acquisition

Loomis AB, a prominent leader in cash and valuables management, has recently announced a significant step in its international expansion strategy by entering into a Tender Offer Agreement (TOA) for the acquisition of Hermes Transportes Blindados S.A., a Peru-based company. This strategic move underscores Loomis’ commitment to growth in emerging markets, particularly within Latin America, where cash usage is on the rise.

Overview of the Acquisition

The agreement involves CVC Capital Partners and various minority shareholders who collectively hold 99.49% of Hermes’ outstanding shares, which are publicly traded on the Lima Stock Exchange. With an enterprise value estimated at SEK 4 billion (approximately PEN 1,450 million), Loomis aims to conduct a public tender offer for all outstanding shares of Hermes by the second or third quarter of 2026.

Hermes, founded in 1985, has established itself as a leading provider of cash management and secure logistics services in Peru. Offering a range of services that include transportation, processing, and security custody of valuables, Hermes caters to around 1,000 clients across various sectors, including finance, retail, and mining.

Insights from Leadership

Aritz Larrea, President and CEO of Loomis, expressed his excitement about this acquisition, emphasizing that it marks a strategic milestone for the company. “As a leading player in the industry, Hermes has a proven track record of growth and innovation. Entering Peru, one of the fastest-growing economies in Latin America, presents a robust opportunity for us,” he stated. Meanwhile, Mirella Velásquez Castro, CEO of Hermes, highlighted the advantages of joining forces with Loomis. She noted, “This partnership will bolster our capacity to influence the development of a secure society while building trust within the financial ecosystem.”

Strategic Rationale Behind the Acquisition

The merger is thought to strengthen Loomis' position in Latin America for several reasons:
1. Market Entry and Growth Potential: Peru's economic landscape is characterized by strong growth and high cash utilization, making it an attractive market for Loomis. The local economy is bolstered by a stable macroeconomic environment and an independent central bank, supporting the expansion strategy.
2. Focus on SMEs: The acquisition presents a unique opportunity to enhance Loomis' service offerings in cash handling automation, particularly through its CIMA brand, thereby targeting the growing Small and Medium Enterprises (SME) segment.
3. Mining Sector Synergy: Hermes already has a substantial presence in the mining logistics sector. By leveraging Loomis International's extensive service offerings, the acquisition can enhance existing capabilities and enable cross-border expansion, thus solidifying their market position in this sector as well.
4. Financial and Sustainability Goals: The strategic move is set to meet Loomis' financial targets, as it is expected to enhance revenue growth and contribute positively to profit margins. Notably, Hermes is recognized for its strong governance and sustainability efforts, aligning seamlessly with Loomis' commitment to responsible business practices.

Operational Details of the Acquisition

Under the terms of the TOA, Loomis will proceed with a public tender offer for up to 100% of Hermes' shares, contingent upon customary conditions. The Majority Shareholders have indicated their support for this offer and plan to sell their shares once the tender offer is officially launched.

The entire transaction will be financed through debt with a committed bridge facility and is expected to be instantly accretive to Loomis’ operating profit as well as earnings per share.

Looking Ahead

The commencement of the public tender offer is anticipated in late 2026, with detailed terms and conditions to be disclosed in forthcoming documentation. This transaction represents a pivotal moment for Loomis as it not only reinforces its operational footprint in Latin America but also aligns with the company’s broader strategy of enhancing its service capabilities in response to growing market demands. As the integration proceeds, the business will be reported within the Europe and Latin America segments, offering a comprehensive view of Loomis' expanding international presence.

As Loomis embarks on this new chapter, all eyes will be on how it leverages its synergistic strengths with Hermes to innovate and elevate cash management solutions across the region.