Suzohapp has announced that it has completed the acquisition of the primary currency and cashless product lines of Coinco, a specialist in the design and manufacturing of payment solutions for the vending industry, based in St Louis, Missouri.
Founded in 1958, Coinco specialised in product development, providing the market with a wide range of value-added payment solutions, including its coin changers, bill acceptors, card readers and cashless technology. Some new offerings will be added to the Suzohapp portfolio, such as the Vantage VR6 note recycler and the iris line of cashless systems.
The Coinco brand has enjoyed significant success in the US market and Suzohapp hopes to recreate that success in the international markets by leveraging its resources and global footprint, especially in Europe, where SUZOHAPP has a thriving vending business.
Service in North America of the entire Coinco product line will continue to be provided by the existing Coinco service network, which will continue to be operated by Coin Acceptors Inc.
“This acquisition of the Coinco product lines is an important one for Suzohapp , allowing us to provide our vending customers a more complete, technology-driven global product offering. Under the leadership of Jack Thomas, Coinco earned a strong reputation in the marketplace for delivering innovative and reliable payments solutions. We look forward to carrying on that legacy,” said Drew Scielzo, Suzohapp CEO. “We welcome the Coinco team to the Suzohapp group.”
As part of the acquisition, Suzohapp has also hired key commercial, engineering and operational employees from Coinco in order to provide support to all new and existing customers.
One of these key commercial employees is Ron Manne, Suzohapp ’s new vice president of sales & marketing for the Coinco brand. “We are excited to become part of the Suzohapp group and we look forward to contributing to the company’s future growth and continued success,” said Manne.