SAN FRANCISCO, June 27, 2011 /PRNewswire/ -- Financial
Technology Partners LP and FTP Securities LLC (together, "FT
Partners"), are pleased to announce the completion of another
highly successful landmark transaction in the payments and banking
technology sector, serving as sole strategic and financial advisor
to EDC and its Board of Directors on its sale to Cardtronics USA,
Inc. (Nasdaq: CATM) ("Cardtronics"), a wholly-owned subsidiary of
Cardtronics, Inc., for $145
million.
EDC is a leading provider of turnkey ATM deployment services
operating approximately 3,700 ATMs and multi-function kiosks in
the United States focused on
multi-state retail operators and high-transacting merchant
locations such as convenience stores. The sale adds to the
number of Cardtronics' ATM terminals and will significantly
increase its market footprint, particularly in the Midwest and
Great Lakes regions. Furthermore, Cardtronics will establish
branding relationships with 8 of the top 15 banks in the United States (by assets) through the
acquisition.
"With numerous competitive proposals from both strategic and
private equity bidders, we were incredibly pleased to represent EDC
in its sale to Cardtronics," said Steve
McLaughlin, Managing Partner of Financial Technology
Partners. "The success of this transaction and the fantastic
results for EDC and its shareholders are a testament to the hard
work and dedication of Mark Strauch,
Edward Page and the rest of the
management team at building one of the premier ATM businesses in
the United States."
"We enjoyed working with the entire FT Partners team and were
impressed with their incredible level of effort and diligence
throughout this process," said Mark
Strauch, President and CEO of EDC. "I would strongly
recommend that any CEO seeking to realize maximum value for their
shareholders consider FT Partners as a true partner they can trust
and to ultimately deliver what they promise."
FT Partners was named "Investment Bank of the Year" in
2004 and 2006 and was also recognized as "DealMaker of the
Year" in 2007, 2008 and 2009, in addition to receiving multiple
transaction awards highlighting the outstanding achievements and
results obtained for clients.
Selected FT Partners Transactions:
- The $145 million sale of EDC to
Cardtronics
- YapStone's $50 million minority
investment led by Accel Partners
- Mercury Payment Systems' approximately 60% strategic investment
by Silver Lake
- The $370 million sale of Custom
House to Western Union
- The $525 million sale of Lynk to
The Royal Bank of Scotland
- The $325 million cash sale of
Verus Financial Management to Sage Group PLC
- The $177 million initial public
offering for VeriFone
- The $292 million debt
recapitalization for VeriFone
- The $300 million acquisition of
iPay Technologies by Jack Henry
- The $60.5 million acquisition of
Goldleaf Financial by Jack
Henry
- The $245 million cash sale of
Corillian Corp to CheckFree
- The $40 million Series C
financing for ViVOtech
- The $42.5 million sale of Alogent
to Goldleaf Financial
About Financial Technology Partners LP and FTP Securities
LLC
FT Partners is the only investment banking firm focused
exclusively on providing strategic and financial advisory services
to CEOs in the dynamic financial services and technology sector.
The firm offers strategic advisory services in mission-critical
transactions including mergers, acquisitions, IPOs, LBOs,
refinancings, recapitalizations and private capital raisings. FT
Partners' Managing Partner, Steve
McLaughlin, formerly was a senior investment banker in
Goldman, Sachs & Co.'s (NYSE: GS) Financial Technology Group
and was the senior investment banker in the Financial Institutions
Group in San Francisco before
leaving the firm to form FT Partners in late 2001. San Francisco-based FT Partners is comprised
of a team of experienced investment bankers formerly with the
financial technology, M&A and investment banking groups of
Goldman Sachs, Credit Suisse and Banc of America Securities. FT
Partners and Steve McLaughlin were
recognized in 2009 by The M&A Advisor as "Dealmaker of
the Year". The firm has also been recognized as "Investment
Banking Firm of the Year" in 2004 and again in 2006 for
"Boutique Investment Banking Firm of the Year." Steve McLaughlin was also named in 2006, 2007
and again in 2008 to Institutional Investor's "Online Finance
40" ranking of most influential leaders in online finance. Any
securities related transactions contemplated by or acted upon
hereunder are conducted by FTP Securities LLC, a FINRA
broker-dealer and a wholly owned subsidiary of Financial Technology
Partners LP. For additional information, please visit
www.ftpartners.com.
About EDC
EDC ATM Subsidiary and Efmark Deployment I (collectively,
"EDC"), is a financial services company for consumers who want a
quick, easy-to-use, and affordable way to access cash, pay bills,
obtain prepaid debit cards, and perform a variety of other
day-to-day transactions. We own and operate a network of ATMs and
self-service kiosks deployed in thousands of retail locations
across the United States.
We believe in the power and simplicity of self-service
automation and in the convenience of retail distribution. This is
why EDC is now at the forefront of a sea change in financial
services that has come about because technology has made us capable
of doing what we could never do before and because many consumers
have asked for an alternative to the traditional banking
experience. We see every transaction as a new customer
conversation. Whether it is a traditional ATM cash withdrawal, a
brand new way to pay your cell phone bill, or an exclusive in-store
coupon to save 50% on a car wash, we see each interaction as a new
opportunity to make life a little bit easier for our consumer and a
little more compelling for our retailer. www.edcatm.com.
About Cardtronics
Cardtronics (Nasdaq:CATM) is the world's largest non-bank owner
of ATMs. The Company operates over 33,200 ATMs in the United States, the United Kingdom, Mexico, and the Caribbean, primarily with well-known 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 4,000 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 over 12,000 Cardtronics' ATMs and providing
surcharge-free access through Cardtronics' Allpoint Network.
www.cardtronics.com.
SOURCE Financial Technology Partners LP and FTP Securities
LLC