Corsair Capital and Note Machine

Canaccord Genuity Acts as Sole Financial Adviser to Corsair Capital and NoteMachine on the Sale of its ATM Business to Brink’s

Canaccord Genuity is pleased to announce that it has acted as sole financial adviser to Corsair Capital and NoteMachine (“NoteMachine” or the “Group”) on the sale of its ATM business to The Brink’s Company (“Brink’s”).

NoteMachine owns the second largest independent provider of ATMs in the United Kingdom, operating over 9,000 machines on a free or pay-to-use basis that process more than 29 million transactions every month and £14 billion in cash each year. As a vertically integrated ATM operator, NoteMachine uses its own cash centre, engineering and processing infrastructure to provide an end-to-end solution for independent retailers, national accounts and financial institutions.

Brink’s, listed on the New York Stock Exchange with a market cap of $2.6bn, is a global leader in total cash management, route-based secure logistics and payment solutions including cash-in-transit, ATM services, cash management services, and international transportation of valuables. Brink’s’ customers include mints, jewelers and other commercial operations. Brink’s has global network of operations in 53 countries and serves customers in more than 100 countries including financial institutions, retailers and government agencies.

The acquisition is an important step by Brink’s in growing their ATM managed services business with this entry to the UK market.

Corsair is a global financial services investor focused on payments, software and business services.

Following the transaction, Corsair Capital will continue to own the Eurochange business. Eurochange provides specialist foreign currency and international payment solutions to retail and business customers and is growing strongly given the rebound in foreign exchange activity since the pandemic. The business operates through c.190 branches and a white label offering to commercial partners,

The transaction completed in October 2022.

This transaction further reinforces Canaccord Genuity’s market leading position as a sell side adviser to the financial services sector and is the fifth sell side transaction announced by the Financials team in the last year, a significant proportion of which are cross border.