Suzo-Happ has acquired two product lines – the Currenza C2 coin recycler and the Bill-to-Bill banknote recycler – from Crane.
The rights to the Currenza C2 family of coin recyclers have been licensed by Suzo-Happ for the European marketplace on an exclusive basis, whereby Crane will no longer sell these products in Europe. The Bill-to-Bill banknote recycler business, including all assets, technology and patents, has been acquired by Suzo.
The move follows completion of Crane’s $804m acquisition of MEI in December, a condition of which was to “implement remedies” relating to the two product lines.
“Completing the acquisition of these globally recognised, market-leading technologies represents a major milestone for our company and our strategic initiatives to expand our core technology and offering of manufactured products to key vertical markets,” said James Brendel, CEO of Suzo-Happ.
Crane will provide transition services to facilitate the integration of both product lines into Suzo’s global operating structure and the latter has hired key employees for the product lines from Crane, including members of sales and technical service teams.
“Including the Bill-to-Bill banknote recycler to our existing portfolio of component solutions for the transportation market significantly increases our value proposition to key customers throughout the region,” said Marcel Oelen, managing director of Suzo-Happ Europe. “The expansion of our long history of coin handling expertise with the addition of Currenza C2 gives us access to the growing vending market with substantial market share opportunities for our existing product lines.”
