SAN FRANCISCO, June 27, 2011 /PRNewswire/ -- Financial Technology Partners LP and FTP Securities LLC (together, "FT Partners"), are pleased to announce the completion of another highly successful landmark transaction in the payments and banking technology sector, serving as sole strategic and financial advisor to EDC and its Board of Directors on its sale to Cardtronics USA, Inc. (Nasdaq: CATM) ("Cardtronics"), a wholly-owned subsidiary of Cardtronics, Inc., for $145 million.
EDC is a leading provider of turnkey ATM deployment services operating approximately 3,700 ATMs and multi-function kiosks in the United States focused on multi-state retail operators and high-transacting merchant locations such as convenience stores. The sale adds to the number of Cardtronics' ATM terminals and will significantly increase its market footprint, particularly in the Midwest and Great Lakes regions. Furthermore, Cardtronics will establish branding relationships with 8 of the top 15 banks in the United States (by assets) through the acquisition.
"With numerous competitive proposals from both strategic and private equity bidders, we were incredibly pleased to represent EDC in its sale to Cardtronics," said Steve McLaughlin, Managing Partner of Financial Technology Partners. "The success of this transaction and the fantastic results for EDC and its shareholders are a testament to the hard work and dedication of Mark Strauch, Edward Page and the rest of the management team at building one of the premier ATM businesses in the United States."
"We enjoyed working with the entire FT Partners team and were impressed with their incredible level of effort and diligence throughout this process," said Mark Strauch, President and CEO of EDC. "I would strongly recommend that any CEO seeking to realize maximum value for their shareholders consider FT Partners as a true partner they can trust and to ultimately deliver what they promise."FT Partners was named " Investment Bank of the Year" in 2004 and 2006 and was also recognized as " DealMaker of the Year" in 2007, 2008 and 2009, in addition to receiving multiple transaction awards highlighting the outstanding achievements and results obtained for clients. Selected FT Partners Transactions:
- The $145 million sale of EDC to Cardtronics
- YapStone's $50 million minority investment led by Accel Partners
- Mercury Payment Systems' approximately 60% strategic investment by Silver Lake
- The $370 million sale of Custom House to Western Union
- The $525 million sale of Lynk to The Royal Bank of Scotland
- The $325 million cash sale of Verus Financial Management to Sage Group PLC
- The $177 million initial public offering for VeriFone
- The $292 million debt recapitalization for VeriFone
- The $300 million acquisition of iPay Technologies by Jack Henry
- The $60.5 million acquisition of Goldleaf Financial by Jack Henry
- The $245 million cash sale of Corillian Corp to CheckFree
- The $40 million Series C financing for ViVOtech
- The $42.5 million sale of Alogent to Goldleaf Financial
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