Brinks has purchased Dunbar Armored and will integrate it’s fleet of 1,600 armed trucks to its current fleet of more than 2,000 vehicles.
Brinks, a total cash management, secure logistics and payment solutions company, acquired the fourth largest U.S. cash management company for approximately $520 million, according to a release from Brinks. The company expects to invest approximately $50 million in capital expenditures over three years to support branch rationalization and the integration of Dunbar's fleet.
Data from Automotive Fleet estimates Brinks U.S. fleet size at 2,120 vehicles, with over 900 of these vehicles being trucks classed 1 - 5. Dunbar employs approximately 5,400 people, and operates 78 branches throughout the U.S., according to a release.
Brink’s said the combined entity will look to achieve substantial cost and operational synergies driven by improved route density, branch optimization, and administrative efficiencies, according to a release. In addition, Brink’s expects to invest approximately $50 million in capital expenditures over three years to support branch rationalization and the integration of Dunbar’s fleet.
Combined, the two companies would exceed $1.1 billion in annual revenue in the United States, according to Richmond Times.
Related: Brinks Names Global Fleet Manager