News

Cardtronics to raise up to $115M in stock offering, appoints new CFO

March 10, 2004

HOUSTON - ATM owner/operator Cardtronics filed with U.S. regulators on March 10 to raise as much as $115 million in an initial public offering.

Cardtronics did not detail the price or amount of shares it would offer in its initial prospectus filed with the Securities and Exchange Commission. Those details are expected in later filings.

Credit Suisse First Boston, Bear Stearns, Wachovia Securities and William Blair & Co. are to underwrite the offering.

Cardtronics said it had applied to list on the Nasdaq under the symbol "CATM."

Cardtronics has also appointed a new chief financial officer and treasurer, J. Chris Brewster.

Thomas Upton, who has been the company's CFO since 2001, will fill the new position of chief administrative officer and be responsible for the acquisitions, legal and human resources functions, as well as business development and contract administration.

Brewster brings more than 20 years of corporate financial management experience to Cardtronics. He was most recently executive vice president/CFO of Imperial Sugar Company, a $1.5 billion refiner and marketer of sugar and related products. Prior to that, he was the CEO/CFO of Worldoil.com, a publishing and Internet development company where he organized and developed the finance, accounting and reporting functions.

Brewster was also a partner in Bellmeade Capital Partners, LLC, a merchant banking firm specializing in growth strategies in consolidating fragmented industries. Previous positions include vice president of Finance/CFO at Sanfill, Inc., an environmental services company with annual sales of $500 million and senior vice president/CFO of National Convenience Stores, a $1.1 billion Houston-based retailer with 1,100 stores in 11 states.

"Chris' expertise and background adds depth and a bigger business perspective to the Cardtronics financial management function," said Jack Antonini, the company's president and CEO.