Securitas Cash Handling Services became Loomis in 2008. The company is listed on the OMX Nordic Exchange in Stockholm the very same year. But this seemingly new identity actually reveals a company with a 160-year old history. It is a history counting many prominent individuals and visionary companies specializing in cash handling and security.
Loomis in the US – roots in the Old West
It all began in 1852 when Wells Fargo & Co. was founded during the California gold rush. A few years later, the company took over operation of the western half of the Pony Express, a company shipping packages between the American east and west coasts.
In 1905, Lee Loomis founded the Cleary Creek Commercial Company. By using a dog sled, he supplied Alaskan miners with daily commodities and equipment and returned with gold. Twenty years later he started Loomis Armored Car Service. At a cost of $ 8000, he produced and put into operation the very first custom made armored secure transportation vehicle later called ‘Old Number One’. The company expanded its business in the western parts of the USA and Canada.
In 1979, the Loomis family decided to sell the Loomis Corporation. The following years were turbulent and the Loomis Corporation went through major changes, several acquisitions and takeovers. In the late 1990s, the company acquired Wells Fargo Armored. The new company took the name of Loomis, Fargo & Co.
Operations in Sweden
It all started in the south of Sweden when Erik Philip-Sorensen founded the security company ‘Helsingborgs Nattvakt’ in 1934. The company expanded fast through acquisitions of smaller security firms. In1972, all companies owned by Erik Philip-Sorensen were united under the common brand “Securitas”.
Erik Philip-Sorensen handed over the control of Securitas to his sons, Sven and Jörgen, in 1981. The international part of Securitas’ operations has developed into Group 4 Securicor (also known as G4S) while the Swedish part of the business operates under the brand Securitas.
In the late 1980s, Securitas launched an international expansion, including acquisitions in Norway, Denmark, and Portugal. In 1991, Securitas was listed on the Stockholm Stock Exchange and acquired several new companies abroad. In 1999, Securitas entered the US market.
Putting all the pieces together
In 2001, Securitas acquired Loomis, Fargo & Co. and incorporated it into the division Securitas Cash Handling Services. In 2006, Securitas announced its intention to split the business into separate, specialized security companies. Securitas Cash Handling Services assumed the name Loomis.
At an extra shareholders’ meeting in 2008, it was decided to distribute all Loomis shares among the Securitas shareholders. In this connection, the Loomis board applied to be listed on the OMX Nordic Exchange in Stockholm. The company has been listed since December 9th, 2008.
In 2009, Loomis established a subsidiary in Slovakia and continued its international expansion in 2010 and 2011. Several additional acquisitions were made in the US and Loomis entered into the Czech market as well as the Turkish market.
In 2012, Loomis expanded into South America through the acquisition of the Argentinian company Vigencia.
In 2014, Loomis acquired VIA MAT Holding AG. The acquisition enables Loomis to expand its service offering by adding International Services to the existing Cash in Transit and Cash Management Services lines of businesses. International Services consist of three types of operations; cross border transportation of cash and precious metals, storage of valuables and general logistics solutions, As a result of the acquisition Loomis is the market leader in cash handling in Switzerland.