SCAN COIN acquires Sotremo
Press release
September 10th, 2011
As part of its new strategy for growth, Swedish SCAN COIN (whose main shareholder is Segulah IV L.P., a Jersey based private equity fund) has acquired the Swiss company Sotremo.
“Sotremo is one of the leading suppliers of coin and note solutions for bank, retail and CIT in Switzerland and has been a vital part of SCAN COIN’s distribution network for many years. We are very happy to incorporate Sotremo into the SCAN COIN group”, says Mr Andreas Renulf, Group Managing Director of SCAN COIN. “This will further strengthen our position, giving us a better competitive edge. This in turn will naturally benefit our customers.”
In addition to a reinforced product range within note and coin handling, existing and future customers can also take advantage of partnering with a company that has a worldwide presence.
“Now we are part of a worldwide network of top class companies which is extremely valuable for exchanging experience and constantly improving our market approach and therefore client satisfaction”, says Mr. Colombo Fasano, Managing Director of Sotremo. “We believe that we can create additional value for our customers and further strengthen our market position” Fasano continues.
Due to the past years strong growth, Sotremo recently moved to new premises in Châtel-St-Denis that are better adapted to current activities as well as future expansion plans. Sotremo’s management will keep a long term ownership interest and remain in their existing positions in the company.
About SCAN COIN:
SCAN COIN is one of the leading suppliers of coin and note handling solutions, with a presence in the market since 1966. The most important business segments are banks, retail, public transport and cash centres. The company was founded in Malmö, Sweden, and produces and sells cash handling solutions worldwide. (www.scancoin.com)
About Sotremo:
Sotremo is since 35 years a Swiss market leader for Cash Handling Solutions. Focused on sales, distribution and after sales service of stand-alone machines as well as complete integrated solutions in all business segments dealing with cash, with special focus on banks, retail, CIT, casinos and public transportation. Sotremo is exclusive representative of worldwide leading suppliers, incl. SCAN COIN, CIMA, G&D, Gunnebo Trier, Laurel, GeWeTe, CountR, Q-Ex, Tellermate and has an installed base of 15000 machines and solutions. (www.sotromo.ch)
About Segulah IV:
Segulah is a private equity company focused on buy-outs of medium sized companies in the Nordic countries. The business model is based on majority ownership and an active engagement by industrial advisors from the business. Segulah Advisor AB is the exclusive investment advisor of Segulah II (MSEK 850), Segulah III (MSEK 2.356) and Segulah IV (MSEK 5.200) UK Limited Partnerships. (www.segulah.com)
