February 25, 2004 – Press Release
FOR IMMEDIATE RELEASE
Tremont Capital Group Advises IntelliCash ATM in its Successful Sale to Swipe USA
BOSTON, MA – February 25, 2004 – Swipe USA, LLC, San Francisco’s largest ATM Independent Sales Organization (ISO), today announced its acquisition of the ATM portfolio belonging to San Ramon, CA-based ISO IntelliCash ATM, Inc. Boston, MA-based Tremont Capital Group, Inc., a firm that specializes in providing strategic planning and merger & acquisition advisory services to the ATM industry, served as an advisor to IntelliCash ATM in the transaction.
Founded in 1996, IntelliCash ATM is managed by Bernard Uiterwijk and his wife, Joan Partridge. This ATM portfolio acquisition will further increase Swipe USA’s presence in the San Francisco Bay Area.
“We are excited to add all of IntelliCash’s high-volume ATMs to Swipe’s portfolio,” said Ron Christensen, President and CEO of Swipe USA. “This deal was the first step of our strategy to acquire several ATM portfolios and also serves to increase Swipe’s market presence in California.”
“It was very important to us to find a local ATM company we knew would take good care of our clients,” said Bernard Uiterwijk, President of IntelliCash. “We have known and admired Swipe for a long time. They were a natural fit,” said IntelliCash’s Joan Partridge.
“This transaction brings together two high quality, like-minded ATM companies in the San Francisco Bay Area,” said Sam M. Ditzion, President and CEO of Tremont Capital Group, which advised IntelliCash ATM on the deal. “Many more mutually beneficial deals of this nature will be formed within the ATM industry as it continues to rapidly consolidate.”
Financial terms of the agreement and other details were not disclosed.
About Tremont Capital Group
Tremont Capital Group is the leading provider of strategic planning and merger & acquisition advisory services to the ATM ISO industry. To learn more about the services provided by Tremont Capital Group, please visit www.tremontcapitalgroup.com or call 617-482-8866.