Vector exits Efectivox

Loomis has acquired 100% of the company from other shareholders including savings banks Caja España-Duero and Banca Civíca for around €17.5m.

Previous funding
In 2008 Vector, the private equity arm of Caixa Penedès, acquired a 14.69% stake in Efectivox, then Blindados Grupo Norte, for €3m. Vector also became a client of the company and provided it with resources such as the use of its offices. In February 2011, the private equity firm participated in a €4.5m capital increase, raising its stake in the company to 27.67%. Savings banks Caja España-Duero and Banca Civíca, alongside Vector, contributed €1.25m to the round, while Grupo Norte provided €750,000 to maintain a 16.99% share.

Company
Founded in 2004, Madrid-based Efectivox specialises in cash handling and transportation services. The company operates from bases in Madrid, Barcelona, Valladolid, Murcia, Pamplona and Caceres, and employs 586 members of staff. In 2010 Efectivox reported a €13.4m turnover.

People
Lars Blecko is CEO of Loomis.

Advisers
Buyer – Ernst & Young (Corporate finance, financial due diligence); Ernst & Young Abogados (Legal).

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