HOUSTON -- Cardtronics Inc. has announced that its wholly owned subsidiary, Cardtronics USA Inc., has completed the acquisition of EDC ATM Subsidiary LLC and Efmark Deployment I Inc. The cash purchase price of $145 million was funded through borrowings under the company's amended credit facility.
As a result of the acquisition of EDC, Cardtronics added approximately 3,700 ATMs in high-traffic U.S. retail locations and ATM branding contracts with some of America's largest financial institutions. With the completion of the acquisition, Cardtronics now has ATM branding relationships [image-nocss] with eight of the 15 largest U.S. banks (by assets).
In conjunction with the funding of the EDC acquisition, the company amended its credit facility for certain terms, including the committed credit under the facility was expanded from $175 million to $250 million; certain pricing terms and covenants were amended to be generally more favorable to the company; and the term of the facility was extended by one year, through July 15, 2016.
Cardtronics is the world's largest nonbank owner of ATMs. It operates more than 37,200 ATMs in the United States, the United Kingdom, Mexico and the Caribbean, primarily with retailers such as 7-Eleven, Chevron, Costco, CVS/pharmacy, ExxonMobil Hess, Rite Aid, Safeway, Target and Walgreens. Cardtronics also assists in the operation of approximately 4,300 ATMs under managed services contracts with customers such as Kroger, Travelex and Circle K. In addition to its retail ATM operations, the company provides services to large and small banks, credit unions and prepaid card issuers, allowing them to place their brands on more than 14,600 Cardtronics' ATMs and providing surcharge-free access through Cardtronics' Allpoint Network.
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