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Cardtronics Inc Announces Acquisition Of Cardpoint Limited

Wednesday, 7 Aug 2013 07:07am EDT 

Cardtronics Inc announced that has acquired Cardpoint Limited, which trades as ATM services provider Cashzone in the United Kingdom, and as Cardpoint in Germany. In conjunction with this deal, Cardtronics introduces a new corporate identity for its European operations, Cardtronics Europe, which will combine Cashzone, Cardpoint and Bank Machine, Cardtronics' existing U.K. subsidiary. Cardtronics Europe Limited, a newly formed subsidiary of Cardtronics Inc., acquired Cardpoint Limited from Payzone Ventures Limited on 7 August for cash purchase consideration (paid at closing) of approximately GBP100 million (approx. $153 million). In the trailing 12 months through 30 June this year, Cardpoint Limited generated revenue of $101 million. In preparation for the closing of this acquisition, Cardtronics executed an amendment to its revolving credit facility to increase the borrowing capacity from $250 million to $375 million. Post-closing, Cardtronics Inc. has approximately $100 million in available unused credit capacity under its revolving credit facility. 

Company Quote

-0.33 -0.89%
12:12pm EDT