PORTLAND, Ore. — TRM Corporation has closed its acquisition of 17,000 ATM contracts in the United States and Canada from eFunds Corporation.
TRM now operates some 22,000 ATMs in the U.S., the United Kingdom and Canada.
The acquisition is expected to be EPS accretive, according to a news release.
The acquisition price of $150 million, excluding fees, expenses and adjustments, was paid in cash, and funded primarily through a syndicated loan facility underwritten and arranged by Banc of America Securities LLC, in combination with cash already on hand.
In connection with the transaction, TRM has entered into a five year managed services agreement with eFunds, which includes a new ATM processing contract.
Banc of America Securities LLC served as financial advisor to TRM in connection with this transaction.
