Cardtronics completes purchase of DC Payments

Jan. 9, 2017

Cardtronics PLC has completed its previously announced acquisition of DirectCash Payments Inc., a global ATM services provider with primary operations in Australia, Canada and the U.K.

A Cardtronics release provided highlights of the company's latest buyout:

  • adds approximately 25,000 ATMs to the Cardtronics global portfolio, which now totals approximately 225,000 ATMs in North America, Europe and Asia-Pacific;
  • establishes Cardtronics as a leading IAD in Australia and New Zealand, with 11,200 ATMs (including ATMs from the 2016 acquisition by DCPayments of First Data Corp.'s Australian retail ATM and managed services ATM portfolio)
  • establishes Cardtronics as a major player in Canada with 11,000 ATMs in that market;
  • adds more than 5,700 ATMs to Cardtronics' existing footprint in the U.K. (pending review and approval by the U.K. Competition and Markets Authority.)

The release placed the value of the transaction at $464 million; funding came from borrowings under Cardtronics' revolving line of credit and cash on hand.

Fiscal 2017 guidance, including the expected contribution from this acquisition, will be issued by Cardtronics in conjunction with its release of Q4 2016 earnings.

RBC Capital Markets LLC served as financial advisor to Cardtronics; Baker & McKenzie LLP provided legal counsel. BMO Capital Markets served as financial advisor to DCPayments; Bennett Jones LLP as legal counsel.


Topics: Distributors / ISO / IAD, Public Companies

Companies: Cardtronics


Sponsored Links:


Related Content


Latest Content

Get the latest news & insights


NEWS

RESOURCES

TRENDING

FEATURES