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Nautilus Hyosung

The management team of U.K.-based YourCash Holdings Ltd., an independent ATM provider, has purchased the business through a refinancing arrangement. Funding for the transaction was provided by the management team, with funds from Pricoa Capital Group, an institutional investment unit of Prudential Financial Inc.

Headquartered in Milton Keynes, YourCash operates about 6,000 ATMs throughout the U.K., Netherlands and Belgium, with locations in convenience stores, supermarkets, universities, casinos, hospitals, post offices, leisure outlets and filling stations. As of December 2012, the company had installed 800 ATMs in the Netherlands, where it now manages 10 percent of the country's ATM market.

YourCash handled more than 73 million ATM transactions last year, equating to £2 billion ($3.1 billion) dispensed through the U.K. ATM estate, and an additional €1.2 billion ($1.6 billion) dispensed in Europe. The company employs 85 staff members and generates more than £32 million ($49.7 million) in annual sales.

In the U.K., more than 50 percent of the company's fleet is fee free, and accounts for 80 percent of all transactions. In Europe, the ATM estate is entirely Free-to-Use. YourCash has plans to expand further across Europe, deploying high speed ATM terminals, wireless technology, innovative services, and offering branding licenses, as well as outsourcing of ATM services for FIs. 

"I am delighted to have concluded the management buyout and refinancing," said Jenny Campbell, chief executive at YourCash. "I have ambitious plans for the continued strategic development of the business and this transaction enables me and the senior management team to accelerate the pace of expansion, both organically and acquisitively, in driving forward our strategy in Europe."

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