The Guardians of Cash: Where Do Loomis' Armored Cars Come From?

A white armored van with the Loomis logo on the sides is parked next to the Poble Sec metro station in Barcelona. Its four flashing lights are on. No one is inside. A few minutes later, a pair of officers in black uniforms emerge from the metro entrance and head toward the vehicle, holding a bundle of cash collected by the metro ticket machine. Loomis is the company responsible for collecting and counting the cash generated daily by part of the Barcelona Metropolitan Transport (TMB) ATM network. It's also common to see its vans waiting in front of banks or large shopping centers.

With a fleet of 400 private vehicles, Loomis serves more than 4,000 customers who frequently need to move large amounts of coins and banknotes. In 2023, the company's subsidiary in Spain had a turnover of more than €153 million, figures very similar to those obtained by its main competitor, Prosegur, according to the commercial registry. Both are the great guardians of cash in Spain, but Loomis is the one with the oldest roots. In fact, they date back more than 160 years to the American Wild West, in the era of the railroad.saloonsand the proceedings.

The gold rush

In 1841, American William Harnden headed Harnden and Company, the first independent express delivery company in the United States. At that time, when people needed to send mail urgently, they preferred to hire private companies rather than the national postal service. However, there was one region where it was very difficult to deliver packages: the route between New York and Albany, passing through Buffalo. To get from Buffalo to Albany, for example, it was necessary to connect trains and stagecoaches for three days and four nights. To cover the route, Harnden hired a young man, Henry Wells, who hauled trunks, money, and valuables back and forth for months. He befriended local bankers and merchants, who often complained to him about the difficulty of transporting packages to New York. Wells sensed a business opportunity.

Wells explained to Harnden how he could create a line for them, but Harnden declined. "If you want to run express service there, you'd better do it on your own: I choose to operate where the business is," he replied. Wells left Harnden's firm and founded his own. In 1845, he contracted the services of another firm, founded by William G. Fargo, to cover a new route in the Cleveland and Chicago area. In 1850, the two and other American couriers merged their businesses and formed the American Express Company. It grew into a large courier network, with dozens of offices spread across the East Coast and the Midwest.

When the California gold rush broke out, Wells and Fargo proposed to the other partners that they expand their courier services to the West Coast. They saw the need for a secure service to transport all the money being generated as more than ever. The majority of the board rejected the proposal, and Wells and Fargo created their own company: Wells, Fargo & Co. The venture was a success.

A parallel path

While Wells, Fargo & Co. was growing, uniting the two coasts of the United States, another company was founded in Alaska in 1905. It was called Clearly Creek Commercial Company, led by Lee Loomis. He was a messenger who used a dog sled to supply local miners with all kinds of goods. In 1925, he took a leap forward by creating Loomis Armored Car Service: he invested $8,000 in the manufacture of the first custom-made armored secure transport vehicle. His clients multiplied, and he quickly expanded throughout the United States and Canada.

In 1979, the Loomis family sold the company. The business passed through several hands until, in the late 1990s, it acquired Wells Fargo Armored. In 2001, Securitas acquired the business and in 2006 renamed its cash management service under its current name, Loomis. Today, it employs approximately 22,000 people worldwide.