Leslie Massey
Loomis AB, formerly known as Loomis, Fargo & Co., is a Swedish cash-handling company that specializes in CIT (Cash In Transit) and CMS (Cash Management Services). It was founded in 1905 by Lee Loomis, who started by supplying Alaskan miners with daily commodities and equipment. In 1925, he founded the Loomis Armored Car Service, producing the first custom-made armored secure transportation vehicle. The company was acquired by Securitas AB in 2001 and became a division of the Swedish securities group until 2008, when it was listed on the Nasdaq OMX Stockholm. Since then, Loomis has expanded its business globally, including in South America and France, and continues to provide secure cash handling services in multiple countries.
| Characteristics | Values |
|---|---|
| Company founder | Edwin Loomis |
| Year founded | Mid-1950s |
| Company type | Family-owned business |
| Company focus | Service, expertise, and technology |
| Company headquarters | Berks County, PA |
| Company services | Cash handling, ATM outsourcing, payment platforms, armoured transport, ATM services, cash processing, outsourced vault services, foreign currency exchange |
| Company acquisitions | Badger Armor Inc., 1st Armored Inc., Hammond Services, Fenix, Visira, Ponsec, Guardian Armored Security Inc, Brinks' cash management operations in the UK, G4S cash handling operations in France, CIMA, AIB Express Logistics, MoMo Holding, Automatia, VIA MAT Holding AG |
| Company investors | Listed on Nasdaq OMX Stock Exchange in Stockholm |
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What You'll Learn
Loomis is a Swedish company
Loomis is a Swedish cash-handling company. It was formed in 1997 through the consolidation of two armoured security companies: Wells Fargo Armored Service and Loomis Armored Inc. The company has an international network covering over 200 operating locations in the US and 11 Western European countries.
Loomis is a subsidiary of the Swedish securities services group Securitas AB, which acquired the remaining 51% of Loomis Fargo & Co. in 2001. In 2006, Securitas AB announced its intention to split into several independent, specialised security companies, with its cash-handling service division adopting the name Loomis. By the end of June 2007, the transition to the new identity was complete, with Loomis employing 20,000 people across 420 locations in Europe and the US.
Loomis provides secure cash transportation and storage services to central banks, financial institutions, and retail customers. The company operates an electronically linked service network in the US, employing over 8,000 people and utilising a fleet of approximately 3,000 armoured and other vehicles.
In addition to its international presence, Loomis has also expanded its service offerings through various acquisitions. For example, the acquisition of CIMA allowed Loomis to grow in automated solutions, while the acquisition of AIB Express Logistics provided expertise in the shipping of valuables.
Loomis was founded by Edwin Loomis in the mid-1950s as a family-owned business. Over time, the company grew into a national entity, focusing on service, expertise, and technology. Today, Loomis continues to emphasise its commitment to service and innovation, striving to create an inclusive society with equal access to payment for all.
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It was founded by Edwin Loomis in the mid-1950s
The Loomis Company, headquartered in Berks County, PA, was founded by Edwin Loomis in the mid-1950s. It started as a family-owned business and has since grown into a national company with a focus on service, expertise, and technology. The company has satellite offices in New York and Florida and is recognised as one of the top 100 diversified insurance brokers in the United States.
Loomis offers a range of services, including property and casualty insurance, marine and aviation insurance, employee benefits solutions, and personal insurance packages. The company has expanded its operations over the years, and by the 1960s, its subsidiaries operated armoured cars in 12 Eastern and Southern states, marking its entry into the coin-auditing and coin-rolling business.
The Loomis Corporation, also known as Loomis US, was founded by Lee Loomis, who started a company during the Alaska Gold Rush. Lee Loomis's company specialised in delivering supplies and ensuring safe travel for miners, utilising armed dogsleds to protect mined gold. This venture laid the foundation for the Loomis Armored Car Service, which became the first cash transportation service in the Western US to employ armoured vehicles.
Over time, the Loomis Corporation expanded throughout the Western US and Canada, eventually being acquired by Mayne Nickless in 1979, leading to the Loomis family relinquishing control of the company. Subsequent years witnessed a series of acquisitions, mergers, and takeovers, including the notable acquisition of Wells Fargo Armored, a company twice the size of Loomis.
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It has a strong presence in the US and Europe
Loomis (formerly Loomis, Fargo & Co.) is a Swedish cash-handling company with a strong presence in the US and Europe. The company was formed in 1997 by the consolidation of two armoured security companies, Wells Fargo Armored Service and Loomis Armored Inc.
Loomis operates in over 200 locations in the US, employing over 8,000 people. They provide secure armoured transport, ATM services, cash processing, and outsourced vault services for banks, financial institutions, and commercial and retail businesses. Loomis is one of the few nation-wide players in the US market, and its operations extend to Alaska, Hawaii, Puerto Rico, and Canada.
In Europe, Loomis has a presence in 11 Western European countries, including France, Spain, Switzerland, the UK, Germany, Norway, Portugal, Sweden, Belgium, Finland, and Denmark. They have particularly strong positions in France, Spain, Switzerland, and the UK. The company has expanded its services in Europe through acquisitions, such as the purchase of French company Keepway and Finnish Ponsec, and the establishment of a subsidiary in Slovakia.
Loomis has adapted its operations to local conditions in each market, catering to varying payment solutions, degrees of digitalization, and security aspects. They have also expanded their digital payment solutions with the launch of Loomis Pay, which combines efficient cash management services with digital payments.
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It provides cash handling and security services
Loomis (formerly Loomis, Fargo & Co.) is a Swedish company that provides cash handling and security services. It has a vast international network spanning over 200 operating locations in the US, Puerto Rico, and 11 Western European countries. With more than 8,000 employees, Loomis utilizes a fleet of approximately 3,000 armoured and other vehicles to secure cash transportation and provide ATM services.
Loomis offers a comprehensive range of services, including secure replenishment, forecasting, monitoring, transaction-related services, and cash processing. They also provide intelligent safes, cash-in-transit, and cash collection solutions for banks, retailers, and the public sector. Loomis plays a critical role in supporting central banks and ensuring efficient payment flows in the markets it serves.
The company has expanded its services through strategic acquisitions, such as CIMA, AIB Express Logistics, and MoMo Holding. These acquisitions have allowed Loomis to grow its automated solutions and international valuables logistics capabilities.
Loomis's decentralized business model enables it to adapt its operations to local conditions in different markets. The company emphasizes safety and efficient logistics, ensuring the availability of cash in society through secure transportation to and from central banks, financial institutions, and retail customers.
Loomis's processing centers are responsible for counting, authenticating, and checking the quality of banknotes and coins, contributing to the smooth functioning of financial transactions.
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It has been the target of several major robberies
Loomis, formerly known as Loomis, Fargo & Co., has been the target of several major robberies during its history. The company provides cash-handling services and operates in the US and several Western European countries.
During its first year of operation as Loomis Fargo & Company, the company was the target of two of the largest cash robberies ever committed in the US. In March 1997, employee Philip N. Johnson stole $18.8 million from the Loomis Fargo armoured car he was driving. Johnson overpowered his two co-workers, leaving them handcuffed in different locations, and fled to Mexico. However, he was arrested shortly after while attempting to re-enter the US.
In the October 1997 Loomis Fargo Bank Robbery, employee David Scott Ghantt and several accomplices stole $17.3 million from the Loomis Fargo Charlotte, North Carolina, branch vault that he was supervising. Ghantt was quickly identified as the prime suspect, and the FBI ultimately recovered approximately 88% of the stolen money.
Another notable robbery occurred in March 1999, when a Loomis semi-truck was robbed during transit from Sacramento, California, to San Francisco. The robber(s) boarded the truck, cut a hole in the roof, and removed approximately $2.3 million without being detected. The robbery was only discovered after the truck arrived at its destination, and no suspects were ever identified.
The UK division of Loomis also experienced several robberies. In February 2006, armed robbers raided its cash centre in Tonbridge, Kent, escaping with £53 million. The following month, a Securitas van in Warrington, Cheshire, was robbed by criminals who rammed it with a stolen tractor and made off with over half a million pounds.
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Frequently asked questions
No, it is not. Loomis is a Swedish cash-handling company that was formed in 1997 by the consolidation of two armoured security companies, Wells Fargo Armored Service and Loomis Armored Inc.
Loomis was previously a division of Securitas AB, a Swedish securities services group. In 2008, Loomis was listed on the Nasdaq OMX Stock Exchange in Stockholm.
The Loomis Company was founded by Edwin Loomis in the mid-1950s as a family-owned business. It has since grown into a national company with a focus on service, expertise, and technology.
Loomis is headquartered in Berks County, PA, USA, and has operating locations in the US and several Western European countries.
Loomis provides secure cash and valuables transportation, ATM services, cash processing, and outsourced vault services for banks, financial institutions, and businesses.
