Loomis to Acquire Peru's Hermes for SEK 4 Billion

Loomis Expands Its Reach#

Loomis, a cash and valuables management company based in Sweden, has announced its intention to acquire Hermes Transportes Blindados S.A., a similar company operating in Peru. The acquisition is valued at approximately SEK 4 billion, which is the total worth of the company without considering its debts. This move marks a significant expansion for Loomis, which has a market capitalization of $3.14 billion.

Details of the Acquisition#

The agreement involves CVC Capital Partners and other minority shareholders who own 99.49% of Hermes' shares. Loomis plans to launch a public tender offer to purchase up to 100% of Hermes' shares in the second or third quarter of this year, with the deal expected to close in the third quarter of 2026.

Founded in 1985, Hermes provides a variety of cash management services in Peru, including the secure transport and storage of cash and valuables, as well as ATM management. The company serves around 1,000 clients across various sectors, including finance, retail, and mining, from its headquarters in Lima and 19 branches throughout the country.

Financial Overview#

In 2025, Hermes reported revenues of PEN 432 million (approximately SEK 1.2 billion) and employs about 3,200 people. The acquisition values Hermes at a multiple of 6.6 times its adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) for 2025, which is slightly lower than Loomis's own multiple of 7.11 times. Loomis has reported an EBITDA of $589.6 million and a return on equity of 12% over the past year.

Future Prospects#

The majority shareholders of Hermes have agreed to support the tender offer and intend to sell their shares once the offer is made. The acquisition will be financed entirely through debt, utilizing a committed bridge facility. Loomis expects that this acquisition will positively impact its operating profit and earnings per share immediately after the deal is finalized. Following the acquisition, Hermes will be integrated into Loomis's operations in Europe and Latin America.