May 5, 2006 – Press Release
FOR IMMEDIATE RELEASE
United Cash Solutions Announces ATM Portfolio Acquisition Facilitated by Tremont Capital Group
Beverly, MA – May 5, 2006 – Leading ATM distributor/processor United Cash Solutions, Inc. (UCS), announced today that it had completed an acquisition of certain ATM-related assets belonging to Providence, RI-based ATM Advantage 2000, LLC. Boston, MA-based Tremont Capital Group, Inc., a strategic planning and merger & acquisition advisory firm that serves the ATM and related industries, advised the seller in the transaction and facilitated the deal.
The acquisition primarily includes assets related to a long-term ATM license agreement with Shaw’s Supermarkets, Inc., one of the largest supermarket chains in New England, which is a division of Albertson’s, Inc. The principals of ATM Advantage 2000 will remain in the ATM industry and continue building their business.
United Cash Solutions President, Alan Forgione believes this acquisition is an important step in achieving the company’s long term growth goals, stating that “acquiring the Shaw’s relationship will reinforce our national presence and solidify our regional position as the ATM provider in the Northeast.”
United Bank Card CEO Jared Isaacman is also confident about this acquisition, stating that “It represents another successful step in the evolution of United Cash Solution as one of the largest and fastest growing ATM providers in the nation.”
“This transaction brings a tremendously valuable asset to United Cash and also enables ATM Advantage 2000 to focus on growing its business,” said Sam M. Ditzion, President and CEO of Tremont Capital Group, which facilitated the deal. “Many similar, mutually beneficial deals will be completed in 2006 as the ATM industry continues to consolidate.”
Financial terms of the agreement and other details were not disclosed.
About United Cash Solutions
United Cash Solutions is a common ownership company operating as a division of United Bank Card, Inc. UCS is a full service ATM processor headquartered in Beverly, Massachusetts providing a complete in-house program to accommodate any ATM need, including ATM sales, leasing, deployment, vault cash services, installation, monitoring, customer service and support. United Cash Solutions is sponsored by Palm Desert National Bank into all regional and national ATM networks. UCS offers a variety of ATM programs geared toward ISOs, agents and merchants.
About Tremont Capital Group
Tremont Capital Group is the leading provider of strategic planning, merger & acquisition advisory services to the ATM and related industries. To learn more about the services provided by Tremont Capital Group, please visit www.tremontcapitalgroup.com or call 617-482-8866.