STRATEGIC PARTNERS
September 11, 2013
Welch ATM announced today that it has wrapped up its purchase of privately held One Point Financial, a Cumming, Ga.-based independent ATM distributor. One Point specializes in customized, off-premises drive-up ATM solutions for financial institutions of all sizes.
In addition to several hundred installed ATM locations in the Southeast and Midwest, the acquisition included lease arrangements with real estate investment trusts and property developers, a news release said.
"Welch ATM's decades of experience with off premise drive-up ATMs makes this a logical acquisition," said Brad Cummins, president of Welch ATM. "The purchase of One Point greatly complements our existing drive-up ATM portfolio and further enhances the potential to grow this segment of our business."
The acquisition closed last week. Service at operating One Point Financial locations will continue uninterrupted through the transition to Welch management, the company said.
Welch, also a privately held company, counts more than 22,000 ATMs under management nationwide. The company operates from sales headquarters in the St. Louis suburb of Chesterfield, and service headquarters in Peoria, Ill.
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