10 October 2022
We have advised NoteMachine, one of the leading ATM networks in the UK, and its majority shareholder, Corsair Capital, on the sale of the business to a subsidiary of The Brink's Company.
Headquartered in Crickhowell, United Kingdom, NoteMachine manages more than 9,000 ATMs, processing more than 29 million transactions every month and £14bn in cash each year. As a vertically integrated ATM operator, NoteMachine uses its own cash center, engineering and processing infrastructure to provide an end-to-end solution for independent retailers, national accounts and financial institutions.
Commenting on the transaction, Head of Corporate M&A and Private Equity Emma Danks said: "It has been a pleasure working with the NoteMachine and Corsair Capital teams on this landmark deal which builds on a longstanding relationship developed with NoteMachine over the last 15 years. Having benefited under Corsair's ownership from their financial institutions network, NoteMachine is entering an exciting new chapter with Brink's, and we look forward to seeing what comes next."
Philip Bowcock, CEO of NoteMachine, said: “Brink’s is a global leader in tech-enabled cash management, with a strong presence in ATM outsourcing. This is absolutely the right direction for NoteMachine, our customers and our employees. We are grateful to the Taylor Wessing team for providing the outstanding M&A transactional expertise we needed to deliver this deal alongside the deep sector expertise, and exceptional service we have come to expect from them."
Raja Hadji-Touma, Partner at Corsair, added: “We are pleased with the growth we have been able to generate through our decade-long partnership with NoteMachine. The Taylor Wessing team have provided instrumental support to us and NoteMachine throughout the process, and we were impressed by their expertise which helped deliver this result.”
The team was led by partner Emma Danks with support from senior associates Alex Holden and Bryce Bartlett, associates Alice Picton, Erin Chu and Scarlett Diamond, and trainee Amie Corry in the private equity team.
Additional support was provided by partner Martin Yells and senior associate Katie Horbury (banking & finance), partner Sian Skelton and senior associate Kelly Burke (commercial tech & data), partner Graham Samuel-Gibbon and senior associate Sally Robertson (tax & Incentives), partner France Delord and associates Magdalena Borucka and Chris Morgan (IP & media), partner Michael Helfgott and associate Katie O'Shea (real estate, partner Charlotte Hill and associate Jessica Howard (financial services regulatory), partner Paolo Palmigiano (competition), partners Sean Nesbitt and Helen Farr and associate Oscar Hodgson (employment), and executive manager Grant Wellcome, associate Kerry Buckenham and assistant Martine Reddin (corporate services).
by multiple authors
by Angus Miln and Emma Danks
by multiple authors