Prosegur is immersed in a restructuring process with the aim of transforming its current management model divided into geographical areas to a new model by business type. The plan is to divide the operations of Prosegur Cash, Prosegur Security and Prosegur Alarms and to be able to potentialise each area.
About Cash
Business area of Prosegur Cash is responsible for cash logistics and cash management, including the management of armoured cash vans. Cash has more than 7,000 armoured vehicles and a workforce of 51,000 people in 15 countries. Since 2007 it has managed to increase its global market share by 70% and aims to grow its revenues at an annual rate of 7.7% until 2019. Cash currently contributes 90.9% of its EBIT (231M) to Prosegur.
Cash intends to realise acquisitions in this sector where they believe there is room for consolidation and reveal that there are 500 companies dedicated to this business worldwide.
Market launch operation
La intención de Prosegur es colocar hasta el 49% de esta división en el primer semestre de 2017 por €2000M lo que le permitirá mantener el control y a la vez captar recursos para crecer no solo en ‘cash’, sino también en las otras dos áreas estratégicas, que son las de soluciones de seguridad y alarmas. Además la compañía pretende reducir deuda. La operación se realizará por medio de una oferta pública de venta.
In the last month Prosegur announced that Prosegur Cash will receive a three-year syndicated loan of €600M to finance its growth. In addition, Prosegur Cash will assume part of the debt of the PSG group, which at the end of 3Q2016 amounted to €706M.
Consolidation of the cash market
The cash in transit and cash management sector is a mature and established market in which 500 companies already operate and where internet payments and new technologies are expected to have a negative effect on this market.
El reto de Prosegur es seguir creciendo en este mercado maduro y para ello necesita realizar acquisitions. Prosegur tiene como objetivo realizar pequeñas acquisitions en países emergentes para crecer en mercados geográficos. Este año ya compro SVB services para entrar en el mercado surafricano.
«Prosegur Cash es la segunda compañía del sector en el mundo con una cuota de mercado del 12% en términos de facturación. Se ha posicionado como una verdadera referencia internacional y tiene una clara vocación de liderar la consolidación internacional del sector», ha subrayado Lasanta.
Prosegur to focus on technology markets with growth potential
In addition, the IPO will also provide liquidity to support its other two divisions: Security and Alarms.
In 2016, as we announced in a post a few months ago, Prosegur has been growing in the cybersecurity market and has acquired several companies such as Dognaedis, a Portuguese company that offers managed information security and data protection services, with clients mainly in the financial and telecommunications sectors and also offers cybersecurity services for governments and defence departments.
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