Cardtronics agrees £18m deal with Loomis

ATM owner and operator Cardtronics, which has its UK headquarters in Hertfordshire, has agreed to sell the retail portion of its UK cash-in-transit operation.

The division, which provides cash pickup and delivery services for retail stores, will be divested to cash handling services giant Loomis in a deal worth approximately £18m.

Cardtronics UK, based in Hatfield, will continue to provide cash replenishment and maintenance services for both its owned and third-party ATM estates. The deal to divest the retail cash-in-transit business is expected to close on 1 July.

In November 2014, Cardtronics acquired Sunwin Services Group, which consisted of a manned guarding business, a cash-in-transit operation serving retailers, a cash-in-transit operation serving ATMs and an ATM maintenance operation.

The manned guarding business was sold in February 2015 to Kingdom Security.

The retail cash pickup and delivery business is being sold to Loomis and Cardtronics will retain the ATM cash-in-transit operation and the ATM maintenance operation, which support its core ATM operations in the UK.

Jonathan Simpson-Dent, managing director of Cardtronics Europe, said: "This divestiture allows Cardtronics to continue to strengthen the efficiency of our UK operations and focus on our core ATM customers.

"Loomis is widely acknowledged as an industry specialist with a long history of managing cash for the retail industry, and we expect that our retail customers will benefit from the specialized services that Loomis offers."

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