EDC

Cardtronics to acquire EDC ATM business

Ann_Torres — Wed, 22 Jun 2011 03:43:02 +0000

HOUSTON, June 21, 2011 – Cardtronics, Inc. (NASDAQ: CATM) today announced that its wholly-owned subsidiary, Cardtronics USA, Inc. has entered into a definitive agreement under which it will acquire EDC ATM Subsidiary, LLC and Efmark Deployment I, Inc. (collectively “EDC”). Under the terms of the agreement, and upon closing, Cardtronics will pay $145 million, plus or minus an adjustment for working capital as of the closing date. Cardtronics expects this transaction to be accretive to adjusted net income per share in 2011 and increasingly accretive in future years as synergies are fully realized.

Upon closing of the transaction, Cardtronics will acquire all ownership interests in EDC’s ATM business, including approximately 3,700 ATMs, as well as numerous ATM placement agreements with high-traffic U.S. retailers and ATM branding contracts with some of America’s largest financial institutions. EDC operates nationwide with an ATM placement portfolio focused on multi-state retail operators and high transacting merchant locations, such as convenience stores.

Combination Would Improve Cardtronics’ Market Position

In the event of successfully closing this acquisition, Cardtronics would reinforce and enhance its status as creator and caretaker of a value-based community populated by merchants, financial institutions and consumers. Among the expected post-acquisition closing benefits to Cardtronics’ network of relationships, EDC’s ATM placements would significantly enhance Cardtronics’ footprint in the Midwest and Great Lakes regions — in effect, doubling its owned ATM placements in multiple states. Additionally, upon completion of the acquisition, Cardtronics will have ATM branding relationships with eight of the 15 largest U.S. banks (by assets).

“EDC has built a tremendous network of retail ATM placements and financial institution branding partnerships,” said Steve Rathgaber, chief executive officer, Cardtronics. “This acquisition would enhance Cardtronics’ reach in more geographic regions across the U.S. and would expand our relationships in the important convenience store market. Cardtronics remains the most proven and trusted ATM provider in both the financial services and retailer worlds.”

By The Numbers (upon closing)

ATMs

Cardtronics-owned (U.S.) 23,500

Branded ATMs (U.S.) 14,700

Owned + Managed/Operated 41,000+

(worldwide)

Additional Transaction Details

Cardtronics intends to finance the acquisition primarily through its revolving credit facility, which was recently expanded from $175 million to $220 million. The transaction is expected to be accretive to adjusted net income per share in 2011 and increasingly accretive in future years. EDC generated approximately $56 million of revenue in the 12 months ended March 31, 2011, which does not fully reflect the impact of certain new retail and financial institution relationships initiated during the period. Upon closing, Cardtronics expects to update 2011 earnings guidance.

Approvals and Anticipated Closing

The final completion of the acquisition is subject to various conditions including customary regulatory approvals, including the expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, which Cardtronics expects to occur during its third quarter.

Conference Call

Cardtronics will host a conference call, Wednesday, June 22, 2011, at 7:30 a.m. CDT (8:30 a.m. EDT) to discuss this acquisition. To access the call, please call the conference call operator at:

Dial in: (877) 303-9205

Alternate dial-in: (760) 536-5226

Please call in 15 minutes prior to the scheduled start time and request to be connected to the “Cardtronics EDC Acquisition Call.” Additionally, a live audio webcast of the conference call will be available online through the investor relations section of the Cardtronics website at http://www.cardtronics.com.

A digital replay of the conference call will be available through Wednesday, July 6, 2011, and can be accessed by calling (800) 642-1687 or (706) 645-9291 and entering 77822870 for the conference ID. A replay of the conference call will also be available online through the Company’s website subsequent to the call through July 21, 2011.

Advisors

Financial Technology Partners LP and FTP Securities LLC (together “FT Partners”) served as exclusive strategic advisor to EDC and its board of directors in this transaction.

About EDC ATM

Headquartered in Walnut Creek, Calif. and a subsidiary of EDC Holding Company, LLC, EDC ATM, LLC has approximately 3,700 turnkey ATMs and self-service financial kiosks in its nationwide network. EDC operates nationwide, processing millions of transactions each month. The company has a proven track record of providing innovative financial services programs for large retailers, financial institutions, and independent merchants whose customers want a quick, convenient and affordable way to access cash and perform a variety of other day to day financial transactions.

About Cardtronics, Inc.

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.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements give the Company’s current expectations or forecasts of future events, future financial performance, strategies, expectations, competitive environment, regulation, and availability of resources. The forward-looking statements contained in this release include, among other things, statements concerning projections, predictions, expectations, estimates or forecasts as to the Company’s business, financial and operational results and future economic performance, and statements of management’s goals and objectives and other similar expressions concerning matters that are not historical facts. These statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. These risks and uncertainties include, but are not limited to, the following:

• the Company’s financial outlook and the financial outlook of the ATM industry;

• the Company’s ability to respond to recent and future regulatory changes, including implementation of regulations under the Dodd-Frank Wall Street Reform and Consumer Protection Act, which may impact the ATM and financial services industries;

• the Company’s ability to respond to potential reductions in the amount of interchange fees that it receives from global and regional debit networks for transactions conducted on its ATMs;

• the Company’s ability to provide new ATM solutions to financial institutions;

• the Company’s ATM vault cash rental needs, including potential liquidity issues with its vault cash providers;

• the implementation of the Company’s corporate strategy, including successful implementation of certain strategic organizational changes that were recently initiated;

• the Company’s ability to compete successfully with new and existing competitors;

• the Company’s ability to renew and strengthen its existing customer relationships and add new customers;

• the Company’s ability to meet the service levels required by its service level agreements with its customers;

• the Company’s ability to pursue and successfully integrate acquisitions;

• the Company’s ability to successfully manage its existing international operations and to continue to expand internationally;

• the Company’s ability to prevent security breaches;

• the Company’s ability to manage the risks associated with its third-party service providers failing to perform their contractual obligations;

• the Company’s ability to manage concentration risks with key customers, vendors and service providers;

• changes in interest rates and foreign currency rates; and

• the additional risks the Company is exposed to in its armored transport business.

Other factors that could cause the Company’s actual performance or results to differ from its projected results are described in its filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. You should not read forward-looking statements as a guarantee of future performance or results. They will not necessarily be accurate indications of the times at or by which such performance or results will be achieved. Forward-looking statements speak only as of the date the statements are made and are based on information available at the time those statements are made and/or management’s good faith belief as of that time with respect to future events. The Company assumes no obligation to update forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting forward-looking information.

Contact Information:

Cardtronics — Media

Nick Pappathopoulos

Director – Public Relations

832-308-4396

npappathopoulos@cardtronics.com

Cardtronics — Investors

Chris Brewster

Chief Financial Officer

832-308-4128

cbrewster@cardtronics.com

Cardtronics and Allpoint are registered trademarks of Cardtronics, Inc.

EDC signs branding agreement with Sovereign Bank

Ann_Torres — Wed, 23 Feb 2011 00:10:02 +0000

HOUSTON, TX (February 22, 2011) EDC announced today that the Company has entered into a multi-year branding agreement with Sovereign Bank across thirty-five Honey Farms Convenience Stores located in the Northeast United States. EDC will provide turnkey placement ATM services, and Sovereign Bank will prominently brand the new Windows-based terminals. Sovereign Bank customers will enjoy fee-free access at all the ATMs.

“EDC is pleased to have been selected by such a well-regarded brand as Honey Farms. We’re also excited about our growing relationship with our new partner Sovereign Bank. This three party relationship will provide reliable and convenient access to cash for all Honey Farms and Sovereign Bank customers,” said Mark Strauch, President and CEO of EDC. EDC has quickly become the fastest growing independent ATM operator in the United States and is now regarded as the #1 provider to convenience store chains nationwide, with more turnkey accounts in the NACS 100 than any other provider.

About Honey Farms

Honey Farms is a privately held retail convenience store chain with more than 35 state-of-the-art locations in Worcester and Middlesex counties. The Iandoli family, who founded Honey Farms in 1969, has operated retail food stores since 1921 and has built an outstanding reputation in the industry by conducting business courteously and respecting its customers, vendors and partners.

About EDC

EDC, headquartered in Walnut Creek, CA, is one of the largest non-bank service providers in the United States, with approximately 4,000 turnkey ATMs and self-service kiosks in its nationwide network. EDC operates in all 50 states, processing millions of transactions each month. The company has a proven track record of providing innovative financial services programs for large retailers, financial institutions, and independent merchants whose customers want a quick, convenient, and affordable way to access cash, and perform a variety of other day to day financial transaction.

Cumberland Farms selects EDC across 600 stores

Ann_Torres — Tue, 01 Feb 2011 21:04:55 +0000

EDC AND CITIZENS FINANCIAL GROUP ADDING NEARLY 600 ATMS AT CUMBERLAND FARMS

Citizens Bank-branded ATMs to be available at Cumberland Farms Convenience Stores throughout New England and Mid-Atlantic

PROVIDENCE, R.I. – Citizens Financial Group, Inc. today announced it is partnering with leading self-service provider EDC to brand nearly 600 ATMs at Cumberland Farms convenience store locations in New England and the Mid-Atlantic, as well as some locations in Florida. The ATMs will be surcharge-free for all Citizens Bank and Charter One customers.

“We are proud to expand customer convenience through this partnership with Cumberland Farms and EDC,” said Vice Chairman Martin Bischoff, who heads Consumer and Business Banking at Citizens Financial Group. “By partnering with a popular convenience store chain such as Cumberland Farms, we are providing our customers the flexibility to access their money at even more locations throughout New England and the Mid-Atlantic. We are committed to providing our customers the ability to bank when and where it is convenient for them.”

The new, withdrawal-only ATMs will display the Citizens Bank logo on the ATMs, welcome screen and receipts. The majority of the new Citizens Bank-branded ATMs will be located in New England and the Mid-Atlantic regions, making banking more convenient for CFG customers in Connecticut, Delaware, Maine, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island and Vermont. The remaining Citizens Bank-branded ATMs will be located in Florida.

Installation of the ATMs began in June and is expected to be completed by September 2010. The ATMs are owned and operated by EDC, one of the largest and most recognized nationwide service providers.

The additional ATMs at Cumberland Farms convenience stores will bring the total number of ATMs available to Citizens Bank and Charter One customers to nearly 3,800. In March, Citizens announced a similar partnership with EDC and Sunoco to brand ATMs at nearly 500 Sunoco APlus Convenience Stores in 13 states throughout the East Coast. The additional ATMs at Sunoco APlus Convenience Stores are now available to customers.

Cumberland Farms is one of the nation’s largest family-owned convenience store chains. Operating in 11 states, its mission is to make life easier for its on-the-go consumers with its trademark Farmhouse Blend coffee and Chill Zone beverages, as well as fresh food, dairy products, snacks and gasoline.

“The addition of Citizens Bank ATMs in our stores is a natural way for us to make life a little easier for our customers,” said Mr. Ari Haseotes, president of Cumberland Farms Retail Division. The flexibility and convenience offered by this service is a natural extension of our pledge.

“We are excited to be a part of the Cumberland Farms retail store experience in conjunction with our longstanding partner Citizens Bank,” said Mark Strauch, President and CEO of EDC. “We look forward to providing an innovative, high quality experience for all visitors to the Cumberland Farms stores and we’re proud to have been selected by such a high profile and prestigious brand name in the convenience store market.”

CFG is committed to convenience. It is the second-largest in-store banker in the nation, providing customers access to seven-day banking and extended weekday hours at nearly 475 full-service locations inside grocery stores and other retail locations.

About Citizens Financial Group, Inc.

Citizens Financial Group, Inc. is a $144 billion commercial bank holding company. It is headquartered in Providence, R.I., and, through its subsidiaries, has more than 1,500 branches and approximately 22,700 employees. Its two bank subsidiaries are RBS Citizens, N.A. and Citizens Bank of Pennsylvania. They operate a 12-state branch network under the Citizens Bank brand in Connecticut, Delaware, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island and Vermont, and the Charter One brand in Illinois, Michigan and Ohio. CFG has non-branch retail and commercial offices in about 40 states. CFG is owned by RBS (The Royal Bank of Scotland Group plc). CFG’s Web site is www.citizensbank.com.

About Cumberland Farms

Cumberland Farms makes life easier for busy people every day. Its network of convenience stores across 11 states reflect the values of three generations of providing customers with value, convenience and unparalleled service – whether you’re buying a cold Chill Zone drink, a hot cup of Farmhouse Blend Coffee or filling the gas tank. Rooted in a family-farm heritage today’s Cumberland Farms also has a long heritage of giving back to the communities where it operates. For more information about a Cumberland Farms near you, please visit us at www.cumberlandfarms.com.

About EDC

EDC, headquartered in Walnut Creek, CA, is one of the largest non-bank service providers in the United States, with approximately 4,000 turnkey ATMs and self-service kiosks in its nationwide network. EDC operates in all 50 states, processing millions of transactions each month. The company has a proven track record of providing innovative financial services programs for large retailers, regional banks, and independent merchants whose customers want a quick, convenient, and affordable way to access cash, pay bills, and cash checks.

Editor’s Note: The breakdown of Cumberland Farms ATM locations by market is: Connecticut (60), Delaware (10), Florida (62), Maine (37), Massachusetts (194), New Hampshire (49), New Jersey (16), New York (75), Pennsylvania (12), Rhode Island (44), and Vermont (24).

EDC adds PNC Bank branding on 250 stores

Ann_Torres — Tue, 01 Feb 2011 21:01:01 +0000

PNC BANK JOINS WITH SPEEDWAY AND EDC TO OFFER ATMs AT STORES THROUGHOUT MICHIGAN

Oct. 4, 2010 – Banking is now more convenient throughout Michigan as PNC Bank, a member of The PNC Financial Services Group, Inc. (NYSE: PNC), and Speedway SuperAmerica LLC (SSA) and leading self-service provider, EDC, today announced the availability of PNC-branded ATMs in nearly 300 store locations across the state.

“PNC is always looking for innovative ways to make banking easier and more convenient for our customers,” said Jim Paul, PNC’s retail executive for Greater Michigan. “With the addition of the Speedway SuperAmerica locations, we have strengthened our presence throughout the state by providing access to some 230 branches and 600 PNC ATMs, including the Speedway locations.”

The PNC-branded ATMs, which are owned and operated by EDC, are accessible to all Speedway SuperAmerica customers. PNC Bank customers will enjoy surcharge-free withdrawals and the ability to check their balances at the 294 store-based ATMs.

“We are dedicated to providing our customers with great service,” said Grant Heminger, SSA’s vice president of Marketing. “PNC and EDC share that commitment, which is why this relationship provides greater value and convenience to our customers.”

EDC, which will maintain the ATMs at the Speedway locations, is one of the largest non-bank service providers in the United States, with approximately 4,000 ATMs and self-service kiosks in its nationwide network.

About PNC

The PNC Financial Services Group, Inc., www.pnc.com, is one of the nation’s largest diversified financial services organizations providing retail and business banking; residential mortgage banking; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management and asset management. Follow @PNCNews on Twitter for breaking news, updates and announcements from PNC.

About Speedway SuperAmerica LLC

Speedway SuperAmerica LLC (SSA), headquartered in Enon, Ohio, is one of the nation’s largest company-owned and -operated convenience store chains and the largest in the Midwest with approximately 1,600 stores located in nine states. Most of the stores are operated under the Speedway and SuperAmerica brand names. SSA is a wholly owned subsidiary of Marathon Oil Corporation (NYSE:MRO). For further information about SSA, visit the Company’s web site at www.speedway.com.

About EDC

EDC, headquartered in Walnut Creek, Calif., operates in all 50 states, with approximately 4,000 ATMs and self-service kiosks in its nationwide network, processing millions of transactions each month. The company has a proven track record of providing innovative financial services programs for large retailers, financial institutions, and independent merchants whose customers want a quick, convenient, and affordable way to access cash, pay bills, and perform a variety of other transactions.

Sunoco selects EDC across 500 stores

Ann_Torres — Tue, 01 Feb 2011 20:57:45 +0000

EDC ADDING NEARLY 500 ATMs THROUGH PARTNERSHIP WITH SUNOCO AND CITIZENS FINANCIAL GROUP

Citizens Bank-branded ATMs to be available at Sunoco APlus® Convenience Stores throughout East Coast

Providence, R.I. (March 8, 2010) – Citizens Financial Group, Inc. today announced it will expand customer convenience by branding ATMs nearly 500 Sunoco APlus Convenience Stores in 13 states throughout the East Coast. The ATMs will be surcharge-free for all Citizens Bank and Charter One customers. Installation of the ATMs, which will be owned and operated by EDC, one of the largest and most recognized nationwide service providers, is expected to begin in May 2010 and be completed in June.

“At Citizens, we are committed to convenience and to helping our customers bank when, where and how they want,” said Vice Chairman Martin Bischoff, who heads Consumer and Business Banking at Citizens. “We are very proud of this new partnership with Sunoco and EDC. This expansion will significantly increase the number of ATMs we offer our customers within our retail footprint, as well as provide them peace of mind knowing they can continue to bank with us at Sunoco APlus Convenience Stores when they travel along the southeastern coast.”

The 487 new, withdrawal-only ATMs will display the Citizens Bank logo on the ATMs, welcome screen and receipts. Most of the new Citizens Bank-branded ATMs (379) will be located within parts of Citizens’ traditional retail footprint, making banking more convenient for CFG customers in Delaware, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania and Rhode Island. The remaining 108 Citizens Bank-branded ATMs will be located outside the banks’ traditional retail footprint extending customer convenience into six new states along the southeast coast in Washington, D.C., Maryland, Virginia, North Carolina, South Carolina and Florida.

“EDC is pleased to have been selected by such a prestigious retail partner as Sunoco,” said Mark Strauch, President and CEO of EDC. “In connection with our longstanding partner Citizens Bank, we believe we have assembled a unique and compelling program where Sunoco and Citizens customers will benefit significantly.”

The availability of the new Citizens Bank-branded ATMs at Sunoco APlus Convenience Stores will bring the total number of surcharge-free ATMs available to Citizens Bank and Charter One customers to more than 3,200, an increase of 18 percent.

Open seven days a week, 24 hours a day, Sunoco APlus Convenience Stores are available at select Sunoco gasoline locations, providing customers on-the-go snacks, beverages and lunches, as well as standard grocery items such as bread, milk and eggs.

CFG is committed to convenience. It is the second-largest in-store banker in the nation, providing customers access to seven-day banking and extended weekday hours at more than 475 full-service locations inside grocery stores and other retail locations.

About Citizens Financial Group, Inc.

Citizens Financial Group, Inc. is a $148 billion commercial bank holding company. It is headquartered in Providence, R.I., and, through its subsidiaries, has more than 1,500 branches and approximately 22,700 employees. Its two bank subsidiaries are RBS Citizens, N.A. and Citizens Bank of Pennsylvania. They operate a 12-state branch network under the Citizens Bank brand in Connecticut, Delaware, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island and Vermont, and the Charter One brand in Illinois, Michigan and Ohio. CFG has non-branch retail and commercial offices in about 40 states. CFG is owned by RBS (The Royal Bank of Scotland Group plc). CFG’s Web site is citizensbank.com.

About Sunoco, Inc.

Sunoco, Inc., headquartered in Philadelphia, PA, is a leading manufacturer and marketer of petroleum and petrochemical products. With 825,000 barrels per day of refining capacity, approximately 4,700 retail sites selling gasoline and convenience items, approximately 6,000 miles of crude oil and refined product owned and operated pipelines and approximately 40 product terminals, Sunoco is one of the largest independent refiner-marketers in the United States. Sunoco is a significant manufacturer of petrochemicals with annual production capacity of approximately five billion pounds, largely chemical intermediates used to make fibers, plastics, film and resins. Utilizing a unique, patented technology, Sunoco’s cokemaking facilities in the United States have the capacity to manufacture approximately 3.0 million tons annually of high-quality metallurgical-grade coke for use in the steel industry. Sunoco also is the operator of, and has an equity interest in, a 1.7 million tons-per-year cokemaking facility in Vitória, Brazil.

About EDC

EDC, headquartered in Walnut Creek, CA,, is one of the largest non-bank service providers in the United States, with approximately 4,000 turnkey ATMs and self-service kiosks in its nationwide network. EDC operates in all 50 states, processing millions of transactions each month. The company has a proven track record of providing innovative financial services programs for large retailers, regional banks, and independent merchants whose customers want a quick, convenient, and affordable way to access cash, pay bills, and cash checks.

Editor’s Note: The breakdown of Sunoco APlus Convenience Store ATM locations by market is: Delaware (6), Florida (57), Maryland (6), Massachusetts (29), New Hampshire (1), New Jersey (27), New York (108), North Carolina (2), Pennsylvania (207), Rhode Island (1), South Carolina (30), Virginia (12) and Washington, D.C. (1).