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Cennox buys US-based ATM service company PSSI

The UK-based company says the acquisition will support the expansion of another of its US subsidiaries, Sterling Bank Services.

May 21, 2015

Cennox PLC, a U.K.-based ATM parts and service provider, has announced that its Sterling Bank Services arm has acquired PSSI International Inc., a project management, electronic security, and installation company for government, financial, and commercial industries.

The purchase will support the expansion of Sterling's service portfolio, allowing for increased ATM installation and vault capacity, and complementing its vendor management reduction programs and security offerings, Cennox said in a press release.

A southern California-based company with a national footprint, PSSI expands not only the operating capacity of Sterling Bank Services, but also its geographic presence.

"This acquisition of PSSI will strengthen our ATM installation and security capabilities across the United States," Cennox CEO Clive Nation said in the release. "Moving forward, a number of our other services also will expand as we integrate our companies. Our clients will continue to receive the high quality solutions they have come to expect."

"By teaming up with a leader in the financial services industry, PSSI is able to leverage Sterling Bank Services' national network and vast resources to enhance our presence and impact a larger network of customers," PSSI Director Dennis Hamm said.

PSSI will continue to operate under its current name, but as a Sterling Bank Services company.