Clearwater International advises Gunnebo on the sale of its Cash Management Business to Sesami, a GardaWorld company
Clearwater International has advised Gunnebo Group (Gunnebo), a global provider of security products, services and software, throughout the sales process of its Cash Management Business to Sesami Cash Management Technologies Corporation (Sesami), an entity of GardaWorld Security Corporation (GardaWorld), a global market leader in security services, integrated risk management and cash solutions.
Headquartered in Gothenburg, Sweden, Gunnebo operates worldwide, providing innovative products, software and services to control the flow of people, valuables and cash. The company offers entrance control, safe storage, and cash management to customers primarily within retail, mass transit, public and commercial buildings, industrial and high-risk sites, and banking. Gunnebo employs around 4,000 professionals worldwide serving customers in multiple markets. In 2020, net sales amounted to about €430m (SEK4,500m).
Gunnebo’s Cash Management Business provides automated cash handling solutions, software and services including closed cash handling, cash recycling and cash deposit. Its solutions reduce the cost of handling notes and coins across the cash ecosystem and create a safer, more efficient cash cycle.
GardaWorld is a global champion in security services, integrated risk management and cash solutions with approximately 120,000 highly qualified and experienced professionals worldwide. Sesami is a newly created tech-enabled cash ecosystem solution integrator that operates as an independent entity of GardaWorld.
The divestment is part of Gunnebo’s transformation journey, enabling the company to focus on its core business and to further expand its global leading market positions within the business units Entrance Control and Safe Storage. Integrated into Sesami, Gunnebo Cash Management will build on its current geographical presence supported by GardaWorld and its financial capacity to enable it to achieve its full potential in an industry undergoing a massive transformation.
The transaction is expected to be closed by March 1st, 2022.
„Clearwater International’s support was very valuable to us in this process. We are pleased to have found a strategic and trusted owner in Sesami and respectively GardaWorld, better positioned to invest in Cash Management’s long-term growth going forward.“ – Stefan Syrén, President and CEO, Gunnebo Group
„We believe the sale of Gunnebo´s Cash Management Business to GardaWorld’s entity Sesami is a perfect result for all involved parties and the outcome of a thorough process in which we have carefully investigated several strategic options for Gunnebo.“ – Axel Oltmann, Managing Partner, Clearwater International