3 Sixty Secure acquires INKAS Security Services Ltd.
ALMONTE, Ont. – Cannabis security firm 3 Sixty Risk Solutions Ltd. (3 Sixty Secure) has acquired INKAS Security Services Ltd., an integrated security risk management company offering a full cycle of security services to cannabis operations.
The transaction is valued at approximately $13.75 million.
3 Sixty Secure says the combined company becomes one of the largest cash management security firms nationally, creating a platform for accelerated growth in Canada and the U.S.
Thomas Gerstenecker, CEO of 3 Sixty Secure said in a statement, “In very short order, and through our vision to directly focus on the cannabis sector, we have experienced rapid growth from a small regional provider to a nationwide presence with a significant vehicle fleet and secure facilities. With this acquisition we become one of the largest cannabis sector secure transportation outfits, and one of the largest cash management operators in Canada. This speaks volumes to the growth of the cannabis industry and the demand for focused and dedicated services. We are excited and pleased to welcome ISSL (INKAS) to continue the push for an even greater future.”
3 Sixty Secure says INKAS was identified as an organization offering complementary philosophies, business goals and resources, and a mix of clients including a cannabis sector customer list that had grown to a market share of 16 operators. INKAS provides 3 Sixty Secure:
• secure cash transportation and processing,
• ATM processing;
• armed security and vault storage service, and
• integrated technology innovation alongside industrial truck and safe manufacturing capability.
INKAS Chairwoman Margarita Simkin said, also in a statement, “This is truly a win-win for our company, the Canadian security sector, our clients, partners and stakeholders alike. Today’s announcement means our team will continue to build momentum and continue to provide exemplary service across the nation and hopefully beyond. We are very pleased to share this vision with the team at 3 Sixty and anticipate truly exceptional results.”
Gerstenecker continued, “today’s news propels us to where we can meet the challenges and needs of any national cannabis operator regardless of size and operational complexity. Our strategic plan is on-track and firmly focused on delivering results for our customers, partners, stakeholders and employees while building shareholder value as a trusted leader in this exciting industry.”