- Acquisition of Cashzone ATM portfolio expands Cardtronics' existing U.K. footprint
- Germany becomes first continental European market for Cardtronics
- Cardtronics Europe identity established
- Jonathan Simpson-Dent introduced as Managing Director
- Acquisition brings Cardtronics' scale business model to U.K. and Europe
Established in 1999, Cashzone is an ATM services provider in the U.K. With its ATM estate numbering 7,100 FTU and PTU machines, Cashzone ATMs are located primarily at retailers, petrol forecourts, service stations and food and drink outlets. By combining the ATM estates of Bank Machine and Cashzone, Cardtronics Europe establishes a portfolio of 11,400 free-to-use and pay-to-use ATMs in the U.K. In Germany, Cardpoint operates 800 ATMs, which is the largest independent ATM portfolio in the country.This combination, Cardtronics and Cardpoint Limited, reinforces and extends Cardtronics' position as the world's foremost provider of conveniently located retail ATMs. Expanding its worldwide ATM estate as a result of this acquisition, Cardtronics now operates a global network of 80,100 ATMs—with machines in the United States, United Kingdom, Mexico, Canada and Germany. Initially in North America and now in the U.K. and Europe, Cardtronics leverages the benefits of scale operational efficiencies and low unit-costs as an enabler of business development, as well as increased value for clients, consumers and shareholders. Cardtronics' European Leadership Team Cardtronics' European leadership team will draw from both companies and be consistent with Cardtronics' established practice of being a global ATM services company that maintains local management in the territories where it operates. Jonathan Simpson-Dent has been appointed to the role of Managing Director of Cardtronics Europe, having served as Cardpoint Limited chief executive officer since February 2012; he will report to Steve Rathgaber, chief executive officer of Cardtronics. Andreas Raabe will continue in his role as Managing Director of German operations; based in Germany, Raabe becomes part of Cardtronics' European leadership team. Cardtronics Europe Managing Director Jonathan Simpson-Dent said: "As Managing Director of Cardtronics Europe, I am excited to be inheriting the proven sales engine from Cashzone and Cardpoint, the leading operational platform of Bank Machine and the financial stability and backing that comes with global ATM services provider Cardtronics. I look forward to further developing and capitalizing on these combined strengths to serve our existing customers, unlock new business opportunities and write the first chapter of a growth-oriented Cardtronics Europe." Transaction Details Cardtronics Europe Limited, a newly formed subsidiary of Cardtronics Inc., acquired Cardpoint Limited from Payzone Ventures Limited on 7 August for cash purchase consideration (paid at closing) of approximately £100 million (approx. $153 million). In the trailing 12 months through 30 June this year, Cardpoint Limited generated revenue of $101 million. In preparation for the closing of this acquisition, Cardtronics executed an amendment to its revolving credit facility to increase the borrowing capacity from $250 million to $375 million. Post-closing, Cardtronics Inc. has approximately $100 million in available unused credit capacity under its revolving credit facility.
Conference CallCardtronics will host a conference call today, Wednesday, 7 August at 8:30 a.m. Eastern Daylight Time (1:30 p.m. Greenwich Mean Time) to discuss this acquisition, 2013 updated financial guidance and preliminary 2014 financial guidance. Also, Cardtronics placed a summary presentation of the transaction and additional information about the Cashzone business and its combined European business on its website as of Wednesday, 7 August. To access the call, please call the conference call operator at:
|Calling from U.S.||Calling from Europe|
|Conference line: (877) 303-9205||Conference line: 00 1 760 536 5226|
|Alternate dial-in: (760) 536-5226|
- Cash is currently a growth sector in the U.K. Recent Payments Council figures show that in 2012, 20.8 billion cash payments were made by consumers, an increase of 200 million from 2011, accounting for 54% of all consumer payments. Additionally, cash machine withdrawals increased by 1.4% to 2.9 billion. (Source: U.K. Cash & Cash Machines 2013, published by Payments Council.)
- Cardtronics, Inc. is a global ATM services provider, with 80,100 retail ATMs deployed and operating across the United States, United Kingdom, Mexico, Canada and Germany.
- Preceding this transaction, Cardtronics has operated in the U.K. as Bank Machine, which has 4,300 machines located across major convenience store chains, forecourts and motorway service stations. 94% of transactions are through free-to-use machines. Cardtronics acquired Bank Machine in 2005.
- Cashzone has 7,100 machines in the U.K., of which 1,800 are free-to-use ATMs, located primarily at independent convenience stores and service stations. Cardpoint operates 800 ATMs in Germany
- Cardtronics operates ATMs in numerous locations ranging from large, nationally-known retail merchants, shopping centres and airports, through to smaller retailers the world over.
- In North America, Cardtronics also partners with financial institutions to brand selected ATMs and financial services kiosks within its network, for the purposes of expanding free-to-use ATM access.
- Allpoint Network -- Cardtronics also owns and operates the Allpoint Network, which at 55,000 ATMs is the world's largest surcharge-free ATM network. Allpoint provides surcharge-free ATM access in the U.S., U.K., Mexico, Canada, Puerto Rico and Australia.
- In the first quarter of 2013, Cardtronics completed the acquisition of i-design group plc, a Scotland-based provider and developer of marketing and advertising software and services for ATM owners.
Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date hereof. The Company undertakes no obligation to publicly update or revise any forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise.Contact Information:
|Media Relations||Investor Relations|
|Elizabeth Jones||Chris Brewster|
|WithPR UK||Chief Financial Officer|
|Tel: +44 (0) 207 249 7769||Tel: 00 1 832 308 4128|