Segulah backs Scan Coin takeover of Sotremo

Segulah took a majority stake in Scan Coin in October 2010, supported by capital from its fourth fund and debt financing from Handelsbanken.

The investors regard the current transaction as a geographical expansion of the company's operations and indicated an interest in further add-on acquisitions. The value of the deal has not been disclosed.

Sotremo has been part of Scan Coin's distribution network for a number of years and its management will remain in their current positions. Andreas Renulf, group managing director of Scan Coin, believes the deal will strengthen the position and competitive edge of the company.

Company
Sotremo, founded in the 1970s, is headquartered in Châtel-St-Denis, Switzerland, with offices in Dübendorf and Bellinzona. It provides cash handling solutions to banks, retail, cash-in-transit, casinos, and public transport. The company employs around 40 staff.

Scan Coin, founded in 1966, provides cash handling solutions mainly to banks, retail, cash centres, and public transport. Based in Malmö, Sweden, it employs around 450 staff and recorded a SEK 727m turnover in 2010.

People
Marcus Planting-Bergloo, investment manager, and Sebastian Ehrnrooth, partner, worked on the deal for Segulah. Andreas Renulf is the group managing director of Scan Coin. Colombo Fasano is the managing director of Sotremo.

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