Benzinga | Apr 6, 2021 07:33AM EDT

Brink's Acquires PAI For $213M

The Brink's Company (NYSE:BCO), the global leader in total cash management, route-based secure logistics and payment solutions, today announced its acquisition of PAI, Inc., the largest privately-held provider of ATM services in the U.S., for $213 million. On a current full-year basis, PAI is expected to generate revenue of approximately $320 million and adjusted EBITDA of approximately $30 million. Given the acquisition's closing date of April 1, PAI is expected to add approximately $240 million of revenue and $22 million of adjusted EBITDA to the company's 2021 results and is expected to be accretive this year. Based in its new headquarters in Dallas, Texas, PAI employs 225 people across three major U.S. locations and another 12 field locations. The acquisition was financed using available cash and the company's existing credit facility.