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Henrico-based Brink’s acquires the nation’s largest privately held provider of ATM services
April 12, 2021
The Brink’s Co., the Henrico County-based company that provides secure transportation, logistics and cash management globally, said Tuesday it has acquired the largest privately held provider of ATM services in the U.S. for $213 million.
The acquisition comes as Brink’s, which is best known for operating a large fleet of armored trucks that transport cash and valuables in countries around the world, adjusts its business model to the increasing use of electronic cash transactions.
Brink’s said its acquisition of Dallas-based PAI Inc. is expected to add about $240 million of revenue and $22 million of adjusted operating profits to Brink’s 2021 results, given the closing date of April 1. On a full-year basis in 2021, PAI is expected to generate about $320 million of revenue.
The Brink’s Co. has about 100 employees in the Richmond region. The company has operations in more than 50 countries and serves customers in about 100 countries with about 77,000 employees.
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