Cardtronics USA, Inc., a wholly owned subsidiary of Cardtronics, has acquired the Welch ATM business for approximately $160 million. Cardtronics, Inc. is one of the world's largest retail ATM owner/operator, had announced acquisition of Welch ATM, a retail ATM services company, earlier this year.
The combined company will bring a global portfolio of 111,150 ATMs, including 93,350 retail ATMs in the United States. The acquisition brings together complementary customer bases and sales teams, positioning Cardtronics to accelerate revenue growth, achieve cost synergies and deliver greater profitability.
Steve Rathgaber, CEO of Cardtronics, said in an official press release: "Now that the transaction is completed, we're looking forward to integrating the two companies and delivering greater value to our customers through an even broader portfolio of ATM services and solutions, and to our shareholders through new revenue generation opportunities, operational efficiency and diversification of our client base."
Cardtronics is known for making ATM cash access convenient where people shop, work and live. Cardtronics brings convergence of retailers, financial institutions, prepaid card programs and the customers they share. It operates more than 111,150 retail ATMs in U.S. and international locales. The company drives foot traffic for America's most relevant retailers, enhances ATM brand presence for card issuers and expands card holders' surcharge-free cash access on the local, national & global scene. Cardtronics is where cash meets commerce.
Here are some interesting facts that have come forth from this deal:
- Welch ATM adds 26,350 U.S. ATMs to Cardtronics' growing domestic portfolio of 93,350 ATMs.
- Cardtronics' global portfolio now totals 111,150 ATMs.
- Welch brings approximately 7,350 company-owned ATMs and 19,000 merchant-owned ATMs to Cardtronics’ U.S. platform, and is expected to generate approximately $70 million in revenues in 2015.
- The acquisition creates a combined Walgreens portfolio that totals 5,100 ATMs and gives Cardtronics additional presence in a significant share of the retailer's nationwide footprint.
- Welch ATM adds 3,100 company-owned, Rite Aid-located ATMs to Cardtronics' roster of premier retailer locations.
- Welch ATM brings to Cardtronics its Kahuna ATM Solutions division, which is a provider of ATM solutions for independent sales organizations.