News

United Cash Solutions buys ATM Advantage ATM portfolio

May 4, 2006

BEVERLY, Mass. - ATM distributor and processor United Cash Solutions Inc. announced in a news release its acquisition of Providence, R.I.-based ATM Advantage 2000 LLC's ATM-related assets.

Financial details surrounding the deal, facilitated by Boston-based Tremont Capital Group Inc., were not disclosed.

"This transaction brings a tremendously valuable asset to United Cash and also enables ATM Advantage 2000 to focus on growing its business," Tremont Capital president and chief executive Sam M. Ditzion said. "Many similar, mutually beneficial deals will be completed in 2006 as the ATM industry continues to consolidate."

The acquisition includes assets related to a long-term ATM license agreement with Shaw's Supermarkets Inc., a division of Albertson's Inc. and one of New England's largest supermarket chains. Principals of ATM Advantage 2000 will remain in the ATM industry and continue building their business.

"Acquiring the Shaw's relationship will reinforce our national presence and solidify our regional position as the ATM provider in the Northeast," United Cash president Alan Forgione said.