News

Cardtronics acquires Merrimak

June 4, 2013

Just a month ago, Cardtronics Inc. announced that its wholly owned subsidiary, Cardtronics USA Inc., had purchased the assets of Portland, Ore.-based Aptus Financial. Now the company has announced its acquisition of the independent ATM deployer Merrimak ATM Group LLC of Rohnert, Calif. — also through its U.S. subsidiary.

Merrimak ATM Group provides ATM services — primarily ATM sales, transaction processing and ATM managed services — to a nationwide fleet of 4,800 ATMs, consisting almost entirely of merchant-owned cash machines. 

In addition, according to the company's website, Merrimak owns and operates a large network of its own machines in locations such as hotels, convenience stores, supermarkets, movie theatres and flea markets.  

The Cardtronics purchase closed on June 3; terms of the deal were not disclosed. Boston-based ATM industry merger and acquisition advisory firm Tremont Capital Group Inc. served as exclusive strategic advisor to Merrimak in the transaction.

While he was unable to comment on details of the sale, Sam M. Ditzion, CEO of Tremont Capital Group, said he felt that the Merrimak ATM portfolio was a tremendously valuable asset. He also said he suspects that the ATM industry will increasingly consolidate and that there will be many more companies up for sale over the next year.

Late last month, Merrimak was in the news as the result of a settlement with the Commonwealth of Massachusetts over missing ATM fee placards.

Read more about distributors, ISOs and IADs.