Global ATM company Cardtronics has acquired Cardpoint, which trades as ATM services provider Cashzone in the UK.
In conjunction with the deal, Cardtronics is introducing a new corporate identity for its European operations, Cardtronics Europe, which will include Cashzone and Bank Machine, Cardtronics’ existing UK subsidiary.
Cardtronics chief executive officer Steve Rathgaber said: “Cardtronics has been operating in the UK since our 2005 acquisition of Bank Machine, playing a key role in expanding ATM access in the country. With this transformative acquisition of the Cashzone ATM estate, Cardtronics establishes the foundation on which to build a Cardtronics Europe scale business to complement our North American operations.”
“The combined enterprise to be formed from this transaction, Cardtronics Europe, can harness each organisation’s skills and resources to build a European platform poised for sustainable growth in the UK and expansion into attractive markets such as Germany.”
Cardtronics has been part of the ATM industry in the UK since its 2005 acquisition of Bank Machine, which owns and operates an estate of 4,300 non-bank cash machines, both free-to-use (FTU) and pay-to-use (PTU).
Cashzone has a UK ATM estate numbering 7,100 FTU and PTU machines, located primarily at retailers, petrol forecourts, service stations and food and drink outlets. By combining the ATM estates of Bank Machine and Cashzone, Cardtronics Europe has established a portfolio of 11,400 ATMs in the UK.