News

Cardtronics buys ATM portfolio from Chicago ISO

August 9, 2005

HOUSTON - Cardtronics Inc. announced in an Aug. 10 news release its purchase of Chicago-based ISO Neo Concepts Inc., which has a portfolio of more than 360 ATMs.

Most of the ATMs are located in BP stations.

"We are pleased to include BP Amoco in our growing list of nationally known merchant-clients," said Cardtronics president and chief executive Jack Antonini." It's a great honor to work with this industry leader and the 50 independent merchants that are a true staple in the petroleum industry."

Neo Concepts, founded by brothers Jim and John Troy in 2000, has grown steadily to include roughly 80 ATMs in the Chicago area, with additional locations in Colorado, Florida, Georgia, Wisconsin, Indiana, Michigan, New Jersey, New York and Tennessee.

"We wanted to be sure that BP and our independent merchants would be served well after the sale, and Cardtronics' focus on providing complete ATM solutions made them the best choice," said Neo Concepts vice president and co-founder John Troy.

"The Neo Concepts ATM portfolio adds another significant presence for us in the convenience store venue in the Chicago area as well as the rest of the country," said Brian Archer, Cardtronics executive vice president of sales. "This long-term relationship with BP Amoco, and our option to install ATMs in new store locations, provides a profitable growth model for Cardtronics and BP Amoco, as well as a foundation for providing great service for their customers."