Bank Machine

Sector Business & Financial Services
Location London
Date acquired 2003
Transaction size Not disclosed

An ATM provider

Bank Machine was acquired in 2003 when it was deemed non-core to its NASDAQ-listed owner. At that time it owned and operated over 800 ATMs across the UK in sites such as convenience stores, leisure outlets and bars. It also provided more traditional ‘hole in the wall’ ATMs in high street outlets.

Bridgepoint was attracted by the business’s high scalability, highly cash-generative nature and the opportunity to make selective acquisitions within a growing market segment.

As a result, Bank Machine proved to be an attractive acquisition candidate for an international ATM provider and was sold to Cardtronics Inc, for an undisclosed sum in May 2005, making it the largest ATM sales and service provider in the world.

 

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