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All the latest news from NoteMachine

NoteMachine Announces Acquisition of Eurochange

6/11/14

NoteMachine Group Holdings (“NoteMachine”), one of the major cash machine operators in the United Kingdom and Germany, today announced the strategic acquisition of Eurochange Limited (“Eurochange”), a U.K. provider of specialist foreign currency and international payment solutions to retail and business customers. The acquisition further extends NoteMachine’s range of transactional and payment services to retail, business and bank customers, enabling it to offer physical cash, foreign exchange and international payments services. Eurochange is a leading challenger foreign exchange specialist operating for almost forty years through 96 branches across England and online. It provides travel currency, international payments and remittance services to retail and business customers. Capitalizing on its competitive strengths of customer service, convenience and price transparency, Eurochange has substantially grown its market share in the foreign exchange market. The company expects to handle over 1.8 million customer transactions for 2014. NoteMachine provides transactional and payment services more efficiently and cost-effectively than traditional banking groups. It operates via a network comprising over 7,500 ATMs across the United Kingdom and is one of the larger ATM operators in Germany. Every month, around 20 million people use at least one of NoteMachine’s ATMs. NoteMachine will capitalize on its ATM network and customer base to further expand Eurochange’s reach and brand awareness across Europe. NoteMachine is majority owned by Corsair Capital, a private equity firm experienced at investing globally in the financial services industry. Peter McNamara, NoteMachine founder and CEO, stated: “We are excited to have Eurochange join our group. The strategic combination of Eurochange with NoteMachine enhances the abilities of our respective businesses to capitalize on the on-going transformation of our industry by challenging the cost efficiency, performance and innovation of banks and other traditional providers of transactional services. For Eurochange, the combination positions it to accelerate the growth of its branch network and extend the reach of its international payments business. For NoteMachine, the combination furthers our competitive strengths and our ability to service the growing transactional and payment service needs of retail, business and bank customers. Eurochange is one of the top U.K. specialist providers of foreign currency services with a broad geographical coverage of England, and has an excellent professional management team. Eurochange shares our group’s mission of providing more cost efficient and convenient payment services to customers.” Massimo Gini, Chairman and founder of Eurochange said: “I set up Eurochange almost 40 years ago and from that point we have grown the company into one of the most trusted foreign exchange brands in the United Kingdom. I am very proud of what we have achieved and after 39 years, I have decided it is now time for me to focus on my other passion, my charity – Sustain for Life (www.sustainforlife.org). I leave Eurochange in the very capable hands of Peter McNamara and his team at NoteMachine, and the existing Eurochange management team, who will look forward together to the very exciting future mapped out for the combined companies.” Lord Davies of Abersoch, Vice Chairman of Corsair Capital and Chairman of NoteMachine, said: “Corsair Capital is confident in the long term growth potential of NoteMachine and its ability to build value. The board has worked closely with the NoteMachine leadership team to identify the right strategic opportunity, and the acquisition of Eurochange represents an important milestone in NoteMachine’s strategy and expansion, consistent with the company’s focus as a provider of core payment services in Europe.” About NoteMachine NoteMachine provides payment services more efficiently and cost-effectively than traditional banking groups. The company was founded in 2006 by its CEO Peter McNamara and is now backed by funds managed by Corsair Capital, LLC. The business operates over 7,500 ATMs in the United Kingdom and is one of the larger ATM operators in Germany. NoteMachine’s ATMs handle over 200 million transactions per annum. About Eurochange Eurochange is the United Kingdom’s leading independent provider of foreign exchange services, with a multi-channel discipline of retail, wholesale, white-label and online. Established in 1975 by Massimo Gini, the business has grown from strength to strength by focusing on the delivery of its core retail ethos – providing value, convenience and service to its customers. Eurochange operates from 96 consumer-facing bureau de change outlets across the United Kingdom, providing a wide range of foreign currency related products and services, including travel money, international payments, remittances and multi-currency prepaid cards. About Corsair Capital Corsair Capital, LLC is a specialist private equity firm focused on investing in the global financial services industry. Corsair has invested across a range of geographies and cycles, and in substantially all of the subsectors of the financial services industry including payments, insurance, asset management, depository institutions, and specialty finance in North America, Western Europe, and the Emerging Markets of Asia, Latin America and Central Europe. More information about the firm may be accessed through the website www.corsair-capital.com. Advisers Advisers to NoteMachine and Corsair Capital included: EY (financial due diligence), Taylor Wessing (legal advice) and PwC (tax due diligence). Advisers to Eurochange included: Deloitte (Corporate Finance Advisory) and Addleshaw Goddard (legal advice). Media Contacts for All Parties Jeremy Fielding/Ross Lovern Kekst and Company +1 (212) 521-4800 Crickhowell, United Kingdom – 5 November 2014

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January – year on year increase

28/02/14

“I am delighted to announce that our January 2014 acquired transactions figures have grown by 23% against prior year. This is an outstanding performance and reflects our pursuit of ‘doing it better’.” Peter McNamara, Chief Executive Officer

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Same day cash service

12/02/14

“We are pleased to announce to businesses, who receive cash payments, that we have launched our automated same day cash service (ASDaC); this credits your bank account the same day you receive the cash without you needing to go to the bank. This service is now operating in Germany and will shortly launch in the UK, This represents a major step forward in improving further the advantages of cash as a payment method.” Peter McNamara, Chief Executive Officer

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Come see us at The Pharmacy Show

22/07/13

NoteMachine will be attending The Pharmacy Show on the 29th and 30th September 2013 in the NEC Birmingham. You can find us on stand D42. With over 7,000 ATMs across the UK and in Germany, we deliver cash conveniently when it is needed. Our machines can be found in a variety of locations from supermarket chains to convenience stores and busy transport hubs. [space] In January 2003, NoteMachine installed its first internal cash machine within the Pharmacy sector. Six years later the first Through the Wall cash machine was installed. [space] From January 2011 to date, we have seen a 100% growth on cash machine installations within the Pharmacy sector, 80% of theses cash machines have been installed in 2013. [space] As pharmacists are diversifying their service from the traditional role of dispensing prescriptions to provide a service that works more closely with GPs and other health care professionals, we are seeing the stores changing to become better equipped for the local community.[space] Why would you choose to install as cash machine in your premises; • Providing local people within the local communities free access to their cash • Helping generate revenue through cash withdrawals for local businesses • Increased customer loyalty • Increasing footfall & basket spend NoteMachine offers a range of services designed to meet the demands of our customers. Make an appointment with us at The Pharmacy Show and we will advise you on the best solution for your location.[space] If you are unable to attend the show contact us today on 0800 068 9368.

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C-Store Forum

8/05/13

If you are attending the C-Store Forum on the 10th and 11th June 2013 in Cannes look out for NoteMachine’s Head of Sales, Mike Tanner. If you wish to increase turnover, footfall and customer loyalty, NoteMachine offers a range of different services designed to meet our customers’ demands. Make an appointment with Mike Tanner, he will advise you on the best solution for your company! To make an appointment log onto www.openroomevents.com

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Caerleon Walkers News

30/01/13

On Friday 20th July 2012 the South Wales Argus reported that the local high street bank branch in Caerleon was due to close, which would have left the community without a free to use cash machine. Having read the story NoteMachine’s Regional Development Manager, Andrew Wheeler, went in search of a local business in Caerleon willing to install a free to use, through the wall cash machine. Walkers News is situated on a busy main road into Caerleon. At the front of the store is a bus stop and free parking which makes this an ideal location for people to get easy access to their cash! Andrew approached the owners of the newsagents, Beth and Andrew Walker about installing a cash machine. With the bank closure getting closer, Beth and Andrew knew the importance of providing the community with a cash machine and went ahead despite initial concerns around space available in the shop and disruption any installation work may cause. The machine was installed in September 2012. “The installation process went extremely smooth and we were really impressed with how quickly the job was completed with minimal disruption to the business” commented Beth Walker. Co-owner Andrew Walker commented; “We are extremely happy with the cash machine. If we had known two years ago when we opened the store what a massive effect a cash machine would have on footfall and revenue then we would have installed one straight away. If I should consider opening another business, I would definitely install a NoteMachine cash machine.” Walkers News has received nothing but positive feedback from the local community. When the high street branch closed down on the 2nd November 2012, the community were still able to access their cash thanks to Beth and Andrew. Some of Walkers News older customers had never used a cash machine before as they preferred the counter service that bank offered. When the branch closed Beth and Andrew found themselves assisting them with their transactions. NoteMachine’s Regional Development Manager, Andrew Wheeler said “As soon as I read the article I knew that I had to get a cash machine installed in Caerleon. This will be a very successful cash machine for Walkers News as not only does it support the local community but it’s providing cash for the 55,000 tourists a year that visit the Roman Ruins – a busy local tourist attraction.”

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Santander man joins NoteMachine

8/11/12

Ian Vernon has joined the UK’s leading cash machine supplier NoteMachine as its Business Development Director. He will be responsible for heading up its bank outsourcing and managed services business. NoteMachine recently acquired more than 1,000 remote cash machines from a leading high street bank to propel it to the top spot as the largest provider of cash machines in the UK. Ian brings a wealth of experience to NoteMachine with over 10 years’ operational and strategic experience within the cash machine industry. As Head of ATM Business at Santander he was responsible for all non-branch ATMs and previously he worked as Operations Manager for the entire Alliance & Leicester cash machine network. Executive Chairman Peter McNamara said: “Ian’s appointment is an important step forward in the development of the NoteMachine business. High Street Banks remain a key target area for us; Ian’s extensive experience and wealth of contacts, combined with an excellent value proposition, will help us make considerable inroads into this market.” In 2001 Ian managed the operation of Alliance & Leicester’s ATM network through a period of rapid expansion from under 1,000 machines to a peak of 2,500 machines. He was also responsible for consistently maintaining Alliance & Leicester cash machine availability at one of the highest levels of any bank or building society in the UK and subsequently led a strategic review of the Santander remote ATM estate. Ian has also been an active participant in the Link Network Members Council Review Group and Link Consumer Committee as well as previously participating in the Link User Group, Link Fraud Group, ATM Security Working Group and the ATM Industry Association.

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Top safety accreditation for NoteMachine

21/10/12

NoteMachine has been awarded accreditation from safecontractor for its commitment to achieving excellence in health and safety. safecontractor is a leading third party accreditation scheme which recognises very high standards in health and safety management amongst UK contractors. The company’s application for safecontractor accreditation was driven by the need for a uniform standard across the business. NoteMachine’s Resources Manager, Andrew Baird commented “We take health and safety very seriously and ensuring that all our staffs’ daily jobs are completed to a high standard is paramount.” John King, Technical Director of safecontractor said, “Major organisations simply cannot afford to run the risk of employing contractors who are not able to prove that they have sound health and safety policies in place.” “More companies need to understand the importance for adopting good risk management in the way that NoteMachine has done. The firm’s high standard has set an example which hopefully will be followed by other companies within the sector. safecontractor plays a vital role in supporting our clients in meeting their compliance needs, whilst working with their contractors as they progress through the accreditation process.”

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Corsair Capital acquires NoteMachine

4/09/12

Rutland Partners, the specialist turnaround and restructuring investor, and Corsair Capital, a leading specialist private equity firm focused on investing in the global financial services industry, announce the sale of NoteMachine, the leading independent Automated Teller Machine (“ATM”) business in Europe, to funds managed by Corsair Capital and NoteMachine’s management, who are retaining a significant shareholding in the company. Founded in 2006 by CEO Peter McNamara, NoteMachine operates approximately 7,000 ATMs in the United Kingdom and, in addition, more than 500 ATMs in Germany. NoteMachine has a 7% share of cash withdrawals in the United Kingdom and its ATMs dispense £5 billion of cash every year. Paul Cartwright, Managing Partner of Rutland said: “The NoteMachine business we have built with Peter McNamara and the team over six years has grown from 2,000 ATMs to become market leader with over 7,000 ATMs and is the only vertically integrated operator in the United Kingdom market with a growing presence in Germany. This transaction represents a cash return of approximately 1.3x Rutland’s investment. We are confident NoteMachine moves forward with highly experienced owners in Corsair and the NoteMachine management team. We wish the business every success for the future.” Peter McNamara, Founder and Chief Executive Officer of NoteMachine, stated: “We are very pleased to have Corsair as an investor. Their investment in NoteMachine will help us to continue to deliver excellent services to our customers. In addition, as a financial services specialist investor, Corsair has the ambition and expertise to support the long-term growth of our business. NoteMachine is both the largest independent cash machine supplier across the United Kingdom and the number one independent ATM business in Europe. We also thank Rutland, who have been very supportive in the turnaround and development of NoteMachine over the last six years. With Corsair’s partnership, we believe that NoteMachine is well positioned to capitalize on its market leading position in the United Kingdom and building on its successful presence in Germany.” Lord Davies of Abersoch, Vice Chairman of Corsair Capital who is based in London, who has joined the board of NoteMachine as non-executive Chairman, commented: “Corsair is excited to be acquiring NoteMachine, and to create a partnership with NoteMachine’s excellent management team led by Peter in order to participate in the company’s future success. NoteMachine is at a key inflection point in its expansion, and we are confident that Corsair’s global financial services market expertise will provide enhanced value to NoteMachine and its growth initiatives, including expansion into new markets. This investment is consistent with Corsair’s strategy to utilize its highly successful financial services sector experience to partner with a strong management team and to add value to the execution of the company’s business strategy. We view financial services infrastructure businesses and technology as central to the restructuring of the financial sector in the wake of the crisis and to the client service proposition.” NoteMachine has established itself as one of the leading ATM operators in the United Kingdom. It has a vertically-integrated business model capable of delivering services across the entire value chain from installing, monitoring and servicing ATMs to providing cash via its in-house Cash-In-Transit facility. Even with the emergence of alternative payment methods, cash use remains the most popular means of making consumer payments in the United Kingdom, and ATMs are the leading means of obtaining cash with total volume of ATM withdrawals in the United Kingdom growing by 3.2% in 2011 compared to 2010. With the NoteMachine transaction completed, Rutland Fund I (£210m) now has one remaining investment: Advantage Healthcare. The sale of NoteMachine is the third this year for Rutland and follows the recent sales from Rutland Fund II (£320m) of Pulse Home Products on 5 August 2012 and Attends Healthcare in February 2012. The transaction was led on behalf of Rutland by Paul Cartwright and David Wingfield. KPMG provided financial advice to Rutland, Deloitte provided financial advice to management and Taylor Wessing acted as legal advisor to both Rutland and management. Clifford Chance acted as legal advisor to Corsair Capital.

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