Return to search

Sesami buys PE-backed Tidel, Gunnebo business for C$900m

Sesami Cash Management Technologies Corp has acquired Tidel, a Dallas-based cash automation solutions provider, and the cash management business of Sweden's Gunnebo Group.

Sesami Cash Management Technologies Corp has acquired Tidel, a Dallas-based cash automation solutions provider, and the cash management business of Sweden’s Gunnebo Group. The total consideration is about C$900 million. Tidel was sold by Littlejohn & Co. Sesami is the newly formed cash ecosystem performance and technology affiliate of Garda World Security Corp, a Montreal-based security company backed by BC Partners.

PRESS RELEASE

GardaWorld Launches Sesami: A Tech-Enabled Cash Ecosystem Solution Integrator

MONTREAL AND DALLAS, Feb. 1, 2022 /PRNewswire/ – Garda World Security Corporation (“GardaWorld” or the “Company”), one of the largest security companies in the world, is pleased to announce the creation of Sesami Cash Management Technologies (“Sesami”), an innovative cash ecosystem performance and technology company. Sesami will operate as an independent entity of GardaWorld and will be led by Stéphane Gonthier, who joined GardaWorld in 2016 as CEO of its cash services business.

With global capabilities, Sesami is an open, integrated and sophisticated business intelligence platform offering customizable services including software, intelligent devices and managed services for end-to-end cash ecosystems and cash automation operations.

GardaWorld is also pleased to announce Sesami’s acquisition of Dallas-based Tidel, a leading North American provider of cash automation solutions, and the signature of a definitive agreement for the acquisition of Sweden-based Gunnebo Group’s cash management business, comprising automated cash processing solutions, software and related services, with a leading market position in EMEA, LATAM and APAC for a combined consideration of approximately C$900M. With the integration of these two best-in-breed cash management and cash automation service providers, Sesami’s platform will be powered by cutting-edge software and an unrivalled portfolio of intelligent devices with the capability to serve clients globally. Darren Taylor, CEO of Tidel, will lead Sesami’s intelligent devices business and Christian Weisser, President of Gunnebo Cash Management, will lead Sesami’s managed services business.

“The cash services industry is rapidly evolving and Sesami is poised to revolutionize it with a new, unique and tech-enabled service delivery model which is open, integrated, comprehensive and customizable. Only Sesami can offer clients a holistic view of the performance and management of the entire cash ecosystems, and this is a game changer for both clients, and the industry,” said Stephan Crétier, Founder, Chairman, President and Chief Executive Officer of GardaWorld.

“Sesami’s open architecture approach will both simplify and optimize the outsourcing of end-to-end cash ecosystem management through a single-partner platform, committed to only bringing in the best-in-breed,” said Stéphane Gonthier, Chief Executive Officer of Sesami. “We are extremely pleased to begin this journey with Tidel and Gunnebo’s cash management business, two industry leaders and trusted partners in the market. Together, they form the foundation of Sesami’s cash optimization platform, which will be powered by the best performing software on the market and able to offer advanced cash management solutions globally.”

INTEGRATION OF TIDEL AND GUNNEBO CASH MANAGEMENT

Tidel and Gunnebo cash management will be joining Sesami, bringing with them a team of over 300 software, cash automation and product specialists and a comprehensive portfolio of cash automation solutions, including smart safes and cash recyclers all of which optimize the full cash ecosystem of financial institutions and consumer businesses.

“Tidel is proud and excited to play a foundational role in the creation of Sesami, which will be uniquely positioned to provide clients with access to a full suite of highly innovative cash ecosystem management services,” said Darren Taylor, CEO of Tidel and Global Head of Sesami’s Intelligent Devices business. “As Tidel embarks on this new chapter, we are committed to ensuring continuity for our clients by providing the same level of service and excellence for which we are best known. We will also continue to work closely with our existing cash industry partners, in line with Sesami’s partnership approach to managed services.”

“We are thrilled to join forces with other best-in-breed cash management providers and to have Gunnebo Cash Management’s suite of highly-powerful technology solutions be at the core of a new player on the scene set to transform the industry. We look forward to bringing our unique expertise, solutions and global reach to Sesami’s clients while continuing to serve existing clients,” said Christian Weisser, President of Gunnebo Cash Management and Global Head of Sesami’s Managed Services business.

SESAMI: REVOLUTIONIZING THE CASH MANAGEMENT INDUSTRY

As the cash industry evolves, there is a growing need to engage in a global revolution to integrate and completely digitalize operations and Sesami was created to address this market opportunity head-on. As an agile, one-stop-shop for consumer businesses and financial institutions looking to optimize and outsource their cash management activities, Sesami offers a trustworthy integrated solution to customers for cash ecosystem management.

In addition to providing real-time connection to its customers’ cash ecosystems, Sesami integrates the full spectrum of cash management products and services. These include advisory, business intelligence and analytics; a comprehensive and customizable software suite for tracking, forecasting and data aggregation; managed product maintenance, cash-in-transit and processing services delivered by best-in-class third-party cash operators wherever our clients operate; and a vast array of leading intelligent cash automation and security device options, including Tidel and Gunnebo Cash Management solutions.

For more information visit www.sesami.io

About GardaWorld

GardaWorld is a global champion in security services, integrated risk management and cash solutions, employing more than 120,000 highly skilled and dedicated professionals. Driven by a relentless entrepreneurial culture and core values of integrity, vigilance, trust and respect, we offer sophisticated and tailored security and technology solutions through high-touch partnerships and consistently superior service delivery. With a deep understanding that security is critical to conducting business and keeping communities safe. GardaWorld is committed to impeccable governance, professional care, and the well-being of everyone. Thanks to a well-earned reputation, we are proud to be the long-standing security partner of choice to some of the most prominent brands, Fortune 500 corporations and governments.  For more information, visit https://www.garda.com/.