Cennox, a market and global leading supplier of banking solutions and the partner of choice for many of the world’s leading banks, financial institutions, commercial operations and retail organisations has recently completed two European acquisitions. Following the acquisitions, the Cennox group is undertaking a restructure of its European group companies. Herrington Carmichael were instructed to assist on the UK corporate and banking elements of the acquisitions and to advise on the restructuring plans.
StrongPoint Cash Security
Cennox has acquired StrongPoint’s Swedish-based cash security business. StrongPoint Cash Security has developed a fully integrated, end-to-end security solution, which diversifies Cennox’s service offering globally.
Cel Data Services
Cennox Group’s Belgium arm has acquired, Cel Data Services NV from ING which expands the group’s European presence. Cel Data Services is an established ATM services business in Belgium, providing services to ING Belgium and other financial instructions and retailers.
Herrington Carmichael’s Head of Corporate, Yavan Brar, managed Cennox’s UK banking and corporate requirements – which involved advising on the terms of the share purchase agreements to secure funding for the acquisitions and the provision of security in Belgium and Sweden. Yavan was assisted on the transactions by Chris Gemson.
