News

EZEE fully acquired by Newport Private Yield

February 13, 2005

TORONTO - Ezee ATM announced its financial partner, Newport Private Yield LP, has acquired the remaining 50 percent of EZEE to bring its holdings in the firm to 100 percent.

According to a news release, as part of the transaction, Chris Chandler becomes EZEE's president and chief executive officer, while Gordon Metcalfe, the company's founder, will become senior operations advisor. Scott Keeler remains as vice president and chief operating officer.

Chandler brings more than 17 years experience building and operating businesses, along with significant knowledge of payments-based businesses including ATM, debit, credit and smart cards.

Ezee is Canada's largest merchant-loaded ATM ISO. It currently has more than 2,300 ATMs under management.

"With our successful integration experience and the strong financial backing of Newport Partners, Ezee is well positioned to continue to lead the consolidation of the Canadian independent ATM industry with an accelerated acquisition strategy," Chandler said.

Newport Private Yield is a private equity fund managed by Newport Partners, a Toronto-based personal and corporate asset management firm.