Cardtronics (NASDAQ:CATM) provides automated consumer financial services through its network of automated teller machines (ATMs) and multi-function financial services kiosks. Cardtronics owns/operates over 225,000 ATMS across the U.S., UK, Mexico, Canada and Asia.
After performing extensive due diligence on the off-premise ATM industry, Fred Lummis, through his role at a different investment firm he co-founded, identified Houston-based Cardtronics as an attractive acquisition platform. In 2001, Fred completed a successful recapitalization.
Post-investment, Fred helped recruit additional senior managers from their personal network to enhance the management team and accelerate growth. In addition, he helped recruit a new CEO with a targeted background in financial services. He assisted in arranging over $400 million of capital to support growth and helped complete 13 add-on acquisitions, including a platform in the UK.
Cardtronics completed a successful Initial Public Offering on the NASDAQ in December 2007 and Mr. Lummis continued to serve as Chairman of the Board of Directors until November 2010.