A company’s management team has bought out the company, supported by funds provided by Pricoa Capital Group.
YourCash, based in Breckland, Milton Keynes, provides ATMs across Europe and the investment will help fund the buy out as well as supporting plans to expand current operations in the UK, Netherlands, Belgium and beyond.
Jenny Campbell, of YourCash Ltd, said: “I am delighted to have concluded the management buyout and refinancing. I have ambitious plans for the continued strategic development of the business and this transaction enables myself and the senior management team to accelerate the pace of expansion, both organically and acquisitively, in driving forward our strategy in Europe.
“The growth of mobile payments technology presents opportunities for YourCash to join these initiatives with cash options for customers, thus preserving the option of payment choices for customers.”
YourCash Ltd currently has approximately 6,000 ATMs throughout the UK, Netherlands and Belgium. In 2012, the overall business handled 73 million ATM transactions, equating to £2 billion cash dispensed throughout the UK and €1.2 billion in Europe.
Mike Hughes, mergers and acquistions director at Grant Thornton’s Milton Keynes office, said: “This is the third deal we have completed locally this year. Each of these transactions involved either an overseas buyer or funding from an alternative source of finance such as Pricoa.”
Pricoa Capital Group has been a provider of private debt to companies worldwide for more than 70 years.