News

Cardtronics launches internal 'growth group'

August 26, 2013

Cardtronics Inc., the world's largest retail ATM owner, is looking to get larger still. To this end, the company has announced the launch of its Enterprise Growth Group, an internal organization focused on strategic initiatives that will leverage and extend the company's strengths, resulting in sustained, profitable growth.

According to a Cardtronics news release, initiatives will include transaction share growth, new products, consumer experience, mergers and acquisitions, strategy development and business analytics. Core and next-generation product functions, corporate marketing, business analytics, and mergers and acquisitions teams will fold into the Enterprise Growth Group.

The group will be led by David Dove, who previously provided consulting services for Cardtronics in his role as managing general partner of the Dove Capital Partners. The company said Dove had made significant contributions to the company's key initiatives, including the recent acquisition of Cardpoint Ltd., which more than doubled the Cardtronics ATM portfolio in the U.K. and expanded the company's footprint into Germany.

"David Dove, given his extensive payments and financial services background, combined with his intimate knowledge of our business, is well suited to help Cardtronics enter a new era of blended growth highlighted by product development," said Cardtronics CEO Steve Rathgaber.

For his part, Dove said he hopes to build upon what has become "a very powerful growth platform."

"We interact with more than a million consumers every day — and are visible to many more as they pass by our portfolio of convenient locations during their daily routine," he said. "Given this unrivaled distribution network combined with the position we have established at the intersection of hundreds of financial institutions and thousands of premier retail partners, I am confident that we have growth potential ahead of us."

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