News

Welch ATM expands in Chicago with ATM portfolio purchase

June 5, 2014

Welch ATM today announced the acquisition of the ATM portfolio of Chicago-based Thillens Inc., a cash logistics and ATM services provider, and the largest independent armored car service provider in the Midwest. The acquisition closed last month, a news release said.

The machines purchased by Welch are part of Thillens' financial institution sponsorship program, which involves partnerships with credit unions and select employee groups.

More than 70 percent of the acquired ATMs are located in Chicago, aligning with Welch’s strategic plans for this area, the release said.

Thillens will continue to provide cash delivery solutions following the sale of its portfolio, and will play a key role in Welch’s expanding Chicago business.

“The Thillens team is expert in armored transport and will be continuing to handle that aspect of the business,” said Welch ATM president Brad Cummins, president of Welch ATM. “We welcome the expanded relationship and look forward to their continued engagement in the business as we look to grow this very important market.”

Tommy Finnegan, VP of the armored division at Thillens, said the deal allows the company to expand its service footprint to new markets without capital concerns. “We look forward to our continued mutually beneficial relationship with Welch ATM,” he said.