Loomis Fargo & Company
On July 15, 1996, Borg-Warner Security agreed to consolidate its Wells Fargo Armored Service with Loomis Armored Inc. Employing 8,500 and providing armored transportation, cash services and automated teller machine maintenance, the new concern was named Loomis Fargo & Company. The transaction was completed in 1997.
Loomis Fargo in 1999 initiated a strategy for development as an international cash handling service leader. In 2001 it joined Securitas AB, which was founded in Helsingborg, Sweden, in 1934 by Erik Philip-Sörensen. On November 16, 2006, Securitas AB Chief Executive Officer Hakon Ericson announced the company's intention to split into several independent, specialized security companies, with its Cash Handling Servicea Division adopting the name "Loomis" throughout its international network. By the end of June 2007 the transition to the new identity had been completed, with Loomis employing 20,000 people in a network of 420 operating locations in 11 European nations and the United States. Loomis US included by that date nearly 200 operating locations with 8,000 employees (which it terms "teammates') and a fleet of 3,000 armored cars.
In 2008, Loomis was distributed to the Securitas shareholders and listed at Nasdaq OMX Stockholm as Loomis AB.
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