Cennox announces the acquisition of the US financial equipment and services business, Bancsource. The deal enables Cennox to expand their operations across the United States and further build on their extensive field service programs for their customers.
Cennox, founded in 2006, provides integrated services and solutions to the financial, retail, and transportation industries. Cennox operates extensively throughout the USA, UK and mainland Europe supporting its blue-chip customer base through a highly skilled employee base. Following the acquisition, the fifteenth since Cennox’s founding, the company will have close to 1,500 employees worldwide.
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“Bancsource offers an exciting opportunity for Cennox to strengthen and expand its service offering in banking automation, break fix and smart safe deployment and maintenance,” explains Clive Nation, Founder and CEO of Cennox. “With a range of high-profile clients, the acquisition of Bancsource supports the Cennox strategy of increasing its banking and non-banking solutions, as well as geographic coverage for its key customers and OEM partners.”
Nick Cockett, COO of the Cennox Group, also commented: “The Cennox acquisition of Bancsource provides a major growth opportunity for both our businesses through an extended service offering for our clients. As our clients continue their transition to a technology-based architecture, we will be best positioned to support them on that journey.”
