Cennox acquires Dutch cash automation specialists
Cennox acquires Dutch cash aautomation specialists: Lincsafe, Merlin, Cashtester and Secusystems.
ATLANTA – April 26, 2022 – Cennox (the “Company”), a portfolio company of York Capital Management’s private equity group (“York Private Equity”), today announced the acquisition of a group of Dutch-based companies including, Lincsafe, Merlin, Cashtester and Secusystems (collectively, the “Company Group”). The transaction includes all staff and facilities, with Ron van Veenendaal, founder and Managing Director of the companies, joining the Cennox Operating Board. Terms of the transaction were not disclosed.
Trading since 1996, the Company Group supplies, manufactures, and services a wide range of cash automation equipment across Europe and the U.K. Their ability to service various sectors including banking, retail, government, public transport, and petrol stations, is squarely aligned with the Cennox business model and supports the Company’s growth strategy. Lincsafe and Merlin’s excellent in-house software development, innovative R&D and modern manufacturing skills base, will contribute to the diverse foundation already well established at Cennox.
Cennox is a global service implementation specialist, delivering complex technology, security and facility change programs for major financial, commercial, and retail clients. Headquartered in Camberley, U.K. and Atlanta, GA, Cennox proudly serves over 3,000 customers across multiple sectors and manages 400,000+ cash automation machines, safes, kiosks, and EV charging stations globally. Since its founding in 2006, Cennox has scaled through 19 acquisitions and continues to deliver excellent and consistent organic growth. By combining the acquired (November 2021) US-based FireKing Safety and Security Group with Lincsafe and Merlin in Europe, Cennox will create a world leading cash automation and payments business with a full range of in-house R&D capabilities, exceptional market reach, potential for growth, and the ability to further innovate the future needs of customers across sectors and geographies.
Clive Nation, Group Chief Executive Officer, Cennox, said, “As Cennox continues to deliver on our growth strategy and build a strong, market leading business, the acquisition of Lincsafe, Merlin, Cashtester and Secusystems will further cement our position as the leading go-to partner for companies seeking to strengthen their organisation’s technology, security, and infrastructure capabilities. I look forward to working alongside Ron van Veenendaal, and his team, as we advance our goals of delivering our world class service”.