Suzo-Happ acquires cash handling business SCAN COIN
Suzo-Happ announced today that it has completed the acquisition of SCAN COIN, a leading provider of advanced cash handling technologies, software and services. SCAN COIN, headquartered in Malmö, Sweden, offers customers in the retail, bank, cash center and public transportation markets, full service solutions to optimize their cash handling through automated processing of coins and notes.
“The addition of SCAN COIN truly represents a transformative milestone for Suzo-Happ, adding world leading cash processing technology, extensive engineering and software development, and a global distribution and service network covering more than 100 countries. This represents Suzo-Happ’s fourth acquisition of cash handling technologies over the last 15 months, significantly strengthening Suzo-Happ’s cash handling capabilities, technology and market position,” said James Brendel, Suzo-Happ Chairman.
SCAN COIN’s Intelligent Coin Processing (ICP) Products are the industry standard for cash centers with the highest throughput per shift in the industry. The company’s full line of Retail Cash Solutions (RCS) are fully automated with integrated software that provides till management and cash office processing, enabling retailers to achieve significant labor efficiencies and reduce shrinkage. This flexible and innovative solution portfolio has enabled SCAN COIN to achieve the European market leading position in retail back office.
“SCAN COIN is excited about the opportunity to become part of Suzo-Happ’s growing company,” said Andreas Renulf, SCAN COIN CEO. “Through our combined capabilities we will hasten product innovation bringing new features and solutions to customers at an accelerated rate.”
Financing for this acquisition was provided by Cerberus Business Finance, LLC and PNC Bank.