swedish multinational cash transportation caller
Loomis ( once Loomis, Fargo & Co. ) is a cash handling company. The advanced company was formed in 1997 by the consolidation of two armored security concerns, Wells Fargo Armored Service and Loomis Armored Inc. Their external network covers over 2 operating locations in the US and football team western european countries. In the US, Loomis operates an electronically linked service network of closely 200 operational locations, employs over 8,000 people and utilizes a flit of approximately 3,000 armored and early vehicles to provide plug armored transport, automated teller machine ( ATM ) services, cash process and outsourced vault services for banks, other fiscal institutions, commercial and retail businesses. It was a part of Securitas AB from 2001 to 2008, when it was listed at Nasdaq OMX Stockholm. [ 2 ] [ 3 ]

history [edit ]

Wells Fargo Armored Service [edit ]

When the express mail firm of Wells Fargo & Company ceased to express service in 1918 upon the organization of american Railway Express, the company continued to exist, though no longer an manoeuver company in the United States. George C. Taylor of American Express was president of American Railway Express with Burns D. Caldwell of Wells Fargo as chair of the board of directors. Davis G. Meller, previously the firm ‘s extraneous traffic coach, assumed the presidency of Wells Fargo in 1918. [ 4 ]

Elmer Ray Jones, who had been with Wells Fargo since 1893, purchased Wells Fargo & Company’s Express in Mexico and Wells Fargo in Cuba in 1919 for $ 640,000. He headed a group of men from Wells Fargo and American Express in 1924 to buy Wells Fargo & Company in the United States from the E.H. Harriman estate of the realm, making arrangements with the executors, Charles A. Peabody and Robert W. DeForest. The shares were taken by American Express ( 51 per penny ) and the group of individuals headed by Jones ( 29 per penny ) ; the remaining 20 per cent remained great. In 1924 Jones was elected president of Wells Fargo, which sold its 20,000 shares in the Wells Fargo Nevada National Bank, severing the final examination marry between the two institutions. [ 5 ] Jones redeveloped Wells Fargo as a concern for armored transportation and other specialized express movements. In 1947, for exemplify, he personally supervised the remove of 13 tons of gold from Montreal to Mexico City by airplane. The company had a evanesce of 50 armored cars in New York City, ten-spot stores handling farm equipment, automobiles and trucks, and ( in concert with American Express ) the largest travel agency in Mexico. It besides provided fast railroad cargo service through a subordinate, the Wells Fargo Carloading Corporation. [ 6 ] Succeeding Jones as president of Wells Fargo was Ralph T. Reed in 1956, Howard L. Clark in 1960, R.D. Beals in 1963, and James A. Henderson in 1964. Wells Fargo continued its oversea express service until the 1960s ; by the middle of the ten, its subsidiaries operated armored cars in 12 easterly and southerly states, and the business had entered the coin-auditing and coin-rolling commercial enterprise. [ 7 ] As an operator of armor cars, the company did business as the Wells Fargo Armored Security Corporation as an affiliate of Baker Industries, and late, after its skill by Borg-Warner Security, as Wells Fargo Armored Service .

Loomis Armored Inc . [edit ]

Lee B. Loomis established Loomis Armored Car Service in 1925 in Portland, Oregon. The ship’s company ‘s headquarters was moved to Seattle, Washington, in 1932. Loomis died in 1949, but Loomis Corporation remained under his family ‘s ownership until 1979 when it was acquired by Mayne Nickless. In 1984, Mayne Nickless acquired Purolator Armored, a major rival at the time, and merged its operations into Loomis. [ 8 ] Wingate Partners purchased the US operations of Loomis in 1991, and the company was consolidated with Wells Fargo Armored Service in 1997 to form Loomis Fargo & Company. [ 9 ] UK ‘s Securicor Plc purchased Loomis ‘s canadian operations in 2000. [ 10 ]

Mergers, acquisitions, and divestitures [edit ]

On July 15, 1996, Borg-Warner Security agreed to consolidate its Wells Fargo Armored Service with Loomis Armored Inc. Employing 8,500 and providing armor fare, cash services and automated teller machine maintenance, the new concern was named Loomis Fargo & Company. [ 11 ] The transaction was completed in 1997. In May 2001, Swedish securities services group Securitas AB agreed to buy the remaining 51 percentage of Loomis Fargo & Co. for $ 102 million. [ 12 ] On November 16, 2006, Securitas AB Chief Executive Officer Hakon Ericson announced the company ‘s intention to split into respective independent, specialize security system companies, with its cash handle serve division adopting the appoint “ Loomis ” throughout its external network. [ 13 ] By the end of June 2007, the transition to the raw 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. On 26 November 2007, Loomis announced the sale of Loomis Cash Management Ltd, its cash manage operation in the United Kingdom, to Vaultex UK Ltd jointly owned by HSBC Bank plc and Barclays Bank plc, resulting in a loss of approximately 160 million SEK. [ 14 ]

In 2008, Loomis was distributed to the Securitas shareholders and listed at Nasdaq OMX Stockholm as Loomis AB. [ 3 ] On 4 April 2014, Loomis acquired Zurich based VIA MAT Holding AG, one of the earth ’ s leading companies in international valuables logistics with an enterprise value of approximately CHF 200 million, frankincense adding International Services to the existing Cash in Transit and Cash Management Services lines of businesses and becoming market drawing card in cash cover in Switzerland. [ 15 ]

major robberies [edit ]

During its first year of operation as the new Loomis Fargo & Company, the caller was the prey for two of the largest cash robberies ever committed on american land. In March 1997, employee Philip N. Johnson, on his own, steal $ 18.8 million from the Loomis Fargo armored car that he was driving. In the October 1997 Loomis Fargo Bank Robbery, employee David Scott Ghantt and accomplices stole $ 17.3 million from the Loomis Fargo Charlotte, North Carolina branch vault that he was supervising. The perpetrators of both robberies, and a meaning majority of the cash, were late caught by law enforcement. These two robberies, along with the unrelated $ 18.9 million Dunbar Armored looting, which besides occurred in 1997, were the inaugural to surpass the previous holder of the title “ largest cash looting ” in U.S. history, the $ 5 million cash parcel ( along with $ 0.9 million in jewelry ) of the Lufthansa burglarize of December 1978. An extra looting took invest in March, 1999 while a Loomis semitrailer truck was in theodolite from Sacramento, California to San Francisco. During transit, one or more robbers boarded the truck, cut a hole in the roof, removed approximately $ 2.3 million, and exited the hand truck with the money, wholly evading detection. The looting was not discovered until after the truck arrived at its address and no suspects were ever identified. The incidental is immediately considered a cold character. [ 16 ] The UK class of the company hit the headlines in February 2006 when armed robbers raided its cash center field located in Tonbridge in Kent. The criminals made off with £53m in what is known as the Securitas terminal robbery. [ 17 ] The future month, a Securitas vanguard in Warrington, Cheshire was besides robbed by criminals who rammed it with a stolen tractor and subsequently made off with over half a million pounds. [ citation needed ]

again the lapp month, an armed gang robbed a Securitas van as it was unloading money at Gothenburg ‘s Landvetter Airport in Sweden. [ 18 ] On October 4, 2007, two armor hand truck guards working for Loomis were killed in a looting in Northeast Philadelphia. Another homo was wounded. A bank surveillance photograph showed the gunman walking up to the two guards, shooting both of them execution-style, and running off with a cup of tea containing ATM lodge envelopes. The man late confessed to the killings. [ 19 ] [ 20 ] On November 30, 2016, a man stole a bucket containing aureate flakes worth $ 1.6 million from the back of an loose and unguarded Loomis hand truck on a busy street in Manhattan, New York. [ 21 ]

References [edit ]