SuzoHapp Expands Cash Handling Technology Through Acquisition Of SCAN COIN
Source SuzoHapp
MT. PROSPECT, IL--(Marketwired - Mar 16, 2015) - SuzoHapp announced today that it has completed the acquisition of SCAN COIN, a leading provider of advanced cash handling technologies, software and services. SCAN COIN, headquartered in Malmö, Sweden, offers customers in the retail, bank, cash center and public transportation markets, full service solutions to optimize their cash handling through automated processing of coins and notes.
"The addition of SCAN COIN truly represents a transformative milestone for SuzoHapp, adding world leading cash processing technology, extensive engineering and software development, and a global distribution and service network covering more than 100 countries. This represents SuzoHapp's fourth acquisition of cash handling technologies over the last 15 months, significantly strengthening SuzoHapp's cash handling capabilities, technology and market position," said James Brendel, SuzoHapp Chairman.
SCAN COIN's Intelligent Coin Processing (ICP) Products are the industry standard for cash centers with the highest throughput per shift in the industry. The company's full line of Retail Cash Solutions (RCS) are fully automated with integrated software that provides till management and cash office processing, enabling retailers to achieve significant labor efficiencies and reduce shrinkage. This flexible and innovative solution portfolio has enabled SCAN COIN to achieve the European market leading position in retail back office.
"SCAN COIN is excited about the opportunity to become part of SuzoHapp's growing company," said Andreas Renulf, SCAN COIN CEO. "Through our combined capabilities we will hasten product innovation bringing new features and solutions to customers at an accelerated rate."
Financing for this acquisition was provided by Cerberus Business Finance, LLC and PNC Bank.
About SCAN COIN:
Founded in 1966, SCAN COIN is one of today's leading suppliers of cash processing equipment, system solutions and services. Its worldwide customer base is served through a network of SCAN COIN companies and distribution partners covering more than 100 countries. SCAN COIN develops, manufactures and markets equipment and integrated solutions for handling bank notes and coins, and has become a world leader in the automated cash processing market. The company employs approximately 420 people in 14 countries globally.
About SuzoHapp:
SuzoHapp provides highly engineered component solutions for interactive self-service hardware to the global amusement, gaming, industrial, transportation and vending markets by serving both equipment operators and original equipment manufacturers. SuzoHapp's solutions include control devices and systems, currency handling equipment, display solutions, environmental products, machine operation components and payment systems. With approximately 700 global employees in 13 countries serving more than 25,000 customers worldwide, SuzoHapp has manufacturing, engineering, distribution and service facilities in 13 countries globally. More information is available at www.suzohapp.com SuzoHapp is owned by affiliates of ACON Investments, L.L.C., a Washington, D.C.-based private equity investment firm that has managed over $3.5 billion of capital. For more information, visit www.aconinvestments.com.
