FT Partners Advises EDC on its $145,000,000 Sale to Cardtronics
Overview of Transaction
- On June 21, 2011, EDC announced its sale to Cardtronics for $145 million
- The transaction provides liquidity for Alpine Investors, who took a majority stake in EDC in August 2006
- EDC is a leading provider of turnkey ATM deployment services operating approximately 3,700 ATMs and multi-function kiosks in the United States
- Cardtronics is currently the largest turnkey ATM and financial kiosk operator in the United States, with strong international presence in the United Kingdom and Mexico
- Cardtronics' acquisition adds to its total number of ATM terminals and will significantly increase its market footprint by establishing branding relationships with 8 of the top 15 banks in the United States (by assets)
- FT Partners served as exclusive strategic and financial advisor to EDC in its sale process
- Highlights FT Partners' unparalleled capability of helping companies in the Payments and Bank Technology sector find the best strategic partners and achieve favorable outcomes for stakeholders
- Underscores FT Partners' continued success in advising a broad range of top-tier Payments and Bank Technology companies
- Demonstrates FT Partners' strength in developing strong relationships with financial sponsors