TestLink

Corsair Completes Sale of NoteMachine’s UK ATM and TestLink Divisions

Retrieved on: 
Tuesday, October 4, 2022

Following the transaction, Corsairs holdings will primarily comprise Eurochange Limited (Eurochange), NoteMachines division providing specialist foreign currency and international payment solutions to retail and business customers.

Key Points: 
  • Following the transaction, Corsairs holdings will primarily comprise Eurochange Limited (Eurochange), NoteMachines division providing specialist foreign currency and international payment solutions to retail and business customers.
  • Since acquisition, Corsair has partnered with NoteMachine to help the Company become a leading independent operator of UK ATMs, as well as a broader provider of consumer financial services.
  • NoteMachine has benefitted greatly from Corsairs supportive ownership over the past several years, said Philip Bowcock, CEO of NoteMachine.
  • Corsair is a global specialist investment firm offering opportunities for investors and solutions for companies across financial & business services and infrastructure.

Brink’s Acquires NoteMachine for Approximately $179 Million to Accelerate ATM Managed Services Strategy

Retrieved on: 
Monday, October 3, 2022

RICHMOND, Va., Oct. 03, 2022 (GLOBE NEWSWIRE) -- The Brink’s Company (NYSE:BCO) today announced its acquisition of NoteMachine, one of the leading ATM networks in the United Kingdom, for approximately $179 million or 5.0 times adjusted EBITDA. For the fiscal year ended June 30, 2022, NoteMachine generated revenue of approximately $131 million and adjusted EBITDA of approximately $36 million at current exchange rates. The acquisition is expected to be accretive to earnings in the first year and was financed using available cash and Brink’s existing credit facility.

Key Points: 
  • For the fiscal year ended June 30, 2022, NoteMachine generated revenue of approximately $131 million and adjusted EBITDA of approximately $36 million at current exchange rates.
  • The acquisition expands the footprint of Brinks ATM managed services business to approximately 130,000 ATMs worldwide.
  • We have been actively growing our ATM managed services business, both organically and inorganically, and this is an important step in the execution of our long-term strategy, said Mark Eubanks, president and CEO of Brinks.
  • David Dove, leader of Brinks global ATM managed services business, will oversee and support NoteMachines management team.