Key Takeaways
Loomis AB will enter the Peruvian market through its most significant acquisition to date, launching a public tender offer to acquire cash management firm Hermes Transportes Blindados S.A. for an enterprise value of approximately SEK 4 billion ($380 million). The deal marks a major step in the Swedish company's strategic priority to expand in emerging Latin American markets.
"Today we have reached a strategic milestone. Through our most significant acquisition to date, we are entering the Peruvian market," Aritz Larrea, President and CEO of Loomis, said in a statement. "As the leading player in the industry, Hermes has a proven track record of growth, profitability and innovation. Peru has one the fastest growing economies in Latin America, supported by a solid macroeconomic environment and increasing cash usage."
The agreement with shareholders representing 99.49 percent of Hermes, including CVC Capital Partners, values the Peruvian company at a 6.6x adjusted EBITDA multiple based on its 2025 financials. Loomis will finance the transaction entirely through debt via a committed bridge facility. The acquisition is expected to be immediately accretive to Loomis's operating profit and earnings per share.
The public tender offer is expected to be launched during the second or third quarter of 2026, with the transaction anticipated to close in the third quarter. Following a successful tender offer, no further regulatory approvals are required. Hermes, which reported revenues of PEN 432 million (SEK 1.2 billion) in 2025, will be consolidated into Loomis's Segment Europe and Latin America.
The acquisition provides Loomis with a strong foothold in Peru, a market the company views as attractive due to its high cash usage and solid economic fundamentals. The deal is a key part of Loomis's strategy, outlined at its 2024 Capital Markets Day, to expand its presence in Latin America.
Loomis also sees significant growth and synergy opportunities by combining Hermes's strong position in the small and medium-sized enterprise (SME) segment with its own cash-handling automation solutions. Furthermore, the company plans to leverage its Loomis International service to expand Hermes's existing valuables logistics business within Peru's mining sector.
"We are excited to become part of Loomis," said Mirella Velásquez Castro, CEO of Hermes. "Joining a global group with deep expertise in operations like ours strengthens our ability to continue growing with confidence and responsibility."
This article is for informational purposes only and does not constitute investment advice.
