Illinois-based cash-handling equipment supplier Suzo Happ announced that it has completed the acquisition of Sweden’s Scan Coin, a supplier of cash-handling technology, software and services.
Scan Coin offers customers in the retail, bank, cash center and public transportation markets full service solutions to optimize cash handling through automated processing of coins and notes.
“The addition of Scan Coin truly represents a transformative milestone for Suzo Happ, adding world-leading cash processing technology, extensive engineering and software development, and a global distribution and service network covering more than 100 countries,” said Suzo Happ Chairman James Brendel, who noted that the acquisition “significantly strengthens Suzo Happ’s cash-handling capabilities, technology and market position.”
“Scan Coin is excited about the opportunity to become part of Suzo Happ’s growing company,” added Andreas Renulf, CEO of Scan Coin. “Through our combined capabilities we will hasten product innovation, bringing new features and solutions to customers at an accelerated rate.”
Financing for the acquisition was provided by Cerberus Business Finance and PNC Bank. The terms were not disclosed.
