The combined company supports a global portfolio of 111,150 ATMs, including 93,350 conveniently located 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.

Welch ATM founder and CEO Jeff Hewitt has joined the Cardtronics leadership team as executive vice president, Financial Institution and Retail Sales and Relationship Management.

Steve Rathgaber, chief executive officer of Cardtronics, said:

"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 will host its third quarter earnings conference call on Oct. 29, and will provide updated guidance at that time for 2014, including the expected contribution from this acquisition.

Combined Company Facts

Welch ATM adds 26,350 U.S. ATMs, growing Cardtronics’ domestic portfolio to 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 the 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 portion 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.
Transaction Details

Cardtronics USA, Inc., a wholly owned subsidiary of Cardtronics, has acquired the Welch ATM business for cash purchase consideration of approximately $160 million.