Brink’s Company (BCO): Cantillon Capital Management Unloads Entire Stake; Company Swings To Net Loss in Q4

At the end of last year, Brink’s Company (NYSE:BCO) reported that it completed its exit of the cash handling market in the Netherlands as a result of the loss of its largest customer. In early December 2014, the company announced that it is making organizational changes to accelerate the execution of its strategy and ensure the achievement of its 2015 and 2016 financial targets. Those organizational changes included the consolidation of four geographic units into two operating units. Most of the senior roles and structures within the four former geographic segments were eliminated, resulting in an anticipated cost savings of $15 million in 2015. In addition, the company announced that it is centralizing its country-based support functions such as IT, HR, finance, legal, procurement, security and project management.

“We are encouraged by our fourth-quarter earnings, especially given the substantial currency headwinds we’re facing. We are particularly pleased with the improvement in the U.S., where revenue grew 7% versus the year-ago quarter,” Chairman, President and CEO Tom Schievelbein said in a statement.

Other large shareholders of Brink’s Company (NYSE:BCO) include Mario Gabelli’s GAMCO Investors, which held around 3.11 million shares of the company as of the end of September, 2014. Another investor is Sagard Capital Partners Management Corp, led by Dan Friedberg, which reported ownership of around 1.79 million shares of the company as of Sept. 30, 2014.

On Tuesday, Brink’s Company (NYSE:BCO) is trading down by 0.64% at $24.90. Over the last calendar year, the company’s stock dropped by 19.4%. The stock has a 52-week high of $31.71, and a 52-week low of $19.15.

Disclosure: none