Mon, 17 Oct 2011 | BUSINESS SALE
NoteMachine, one of the UK's largest independent owners and operators of cash machines, has been put up for sale.
The company's private equity owners have said that they expect the company to fetch a sum in excess of £100 million. London-based Rutland Partners have taken on business sale adviser Hawkpoint to handle the sale.
The company will give its future owner a well-established network of ATM machines, numbering more than 7,000 in the UK and Germany, located in a range of establishments including supermarkets, convenience stores and leisure venues.
The company also provides cash machine services for a number of larger High Street retailers in the UK under their own brands.
The sale price for NoteMachine would give Rutland a major profit on the company, after they bought it in 2007 for some £57 million. NoteMachine cash points carry out a major proportion of the independent cash machine transactions made in the UK, thought to number in excess of 12 million every month, and supplying around £5 billion in cash every year.
2011 has seen the company continue to grow, taking on an extra 1,200 cash machines from a number of British banks.
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