HOUSTON, March 29, 2005 (PRIMEZONE) -- Cardtronics, LP, the largest owner/operator of ATMs in the nation, announced its acquisition of an ATM portfolio from BAS Communications, Inc., a New Hyde Park, NY-based ISO. The transaction includes over 450, high-volume ATMs in the New York City Metropolitan area. Tremont Capital Group, Inc., a Boston, MA-based strategic planning and merger & acquisition advisory firm, facilitated the deal on behalf of BAS Communication, Inc.
In making the announcement, Cardtronics President/CEO Jack Antonini said, "We are pleased to expand our already significant presence in the boroughs of New York City. These high-traffic locations are the type of merchant-clients that formed the foundation of Cardtronics from its beginnings and remain the heart of our business."
The majority of the machines are located in non-chain, independent grocery stores primarily in Brooklyn, the Bronx, upper Manhattan and to a lesser extent in Queens and on Staten Island. Approximately 97% of the ATMs are turnkeys with the remainder merchant-owned/managed.
"The BAS Communications ATM portfolio is a tremendously valuable asset," said Sam M. Ditzion, President and CEO of Tremont Capital Group, which advised the seller on the deal. "Many more mutually beneficial deals of this nature will be completed in 2005 as the ATM industry continues to consolidate."
Financial terms of the agreement and other details were not disclosed.
About Cardtronics
Headquartered in Houston, Texas, Cardtronics is the nation's largest owner/operator of ATMs with a nationwide network of more than 25,000 locations operating in every major U.S. market and in all 50 states. Major merchant-clients include A&P, Albertsons, Amerada Hess, Barnes & Noble College Bookstores, Chevron, ConocoPhillips, Costco, CVS/pharmacy, ExxonMobil, Duane Reade, Rite Aid, SSP/Circle K, Sunoco, Target, Walgreens, and Winn-Dixie Stores. For more information about Cardtronics, visit www.cardtronics.com.
About Tremont Capital Group
Tremont Capital Group is the leading provider of strategic planning and merger & acquisition advisory services to the ATM ISO industry. To learn more about the services provided by Tremont Capital Group, please visit www.tremontcapitalgroup.com or call 617-482-8866.
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