Temple, Texas — February, 3 2017 — CORD Financial Services, a leading provider of innovative ATM solutions and products, today announced its acquisition of the ATM-related assets operated in the continental U.S. from Chicago, IL-based Sky Processing. Sky Processing will retain and continue to grow its strong ATM business in Puerto Rico.
Boston-based Tremont Capital Group, Inc., a firm that specializes in providing strategic planning and merger & acquisition advisory services to the ATM industry, advised and represented the seller in the transaction and facilitated the deal.
“CORD’s commitment to increase the value of the company and expand our footprint in the U.S. makes this acquisition a perfect fit,” said Kenneth Gilbert, President of CORD Financial Services. “We will now begin the process of introducing ourselves to our new partners in this purchase, offering them CORD’s experience and knowledge while providing unmatched customer service and exceptional value.”
“CORD will take great care of our customers in the continental U.S. as we continue to rapidly grow our other businesses,” said Brad Zerman, CEO of Sky Processing.
“This transaction was a great fit for both the buyer and the seller,” said Sam M. Ditzion, CEO of Tremont Capital Group. “As the ATM industry continues to consolidate, I expect many similar, mutually beneficial deals will be completed in 2017.”
Financial terms of the agreement and other details were not disclosed.
About CORD Financial Services
CORD Financial Services is a nationwide leading provider of innovative ATM solutions recognized for excellence in providing a variety of ATM services including; full service ATM placements, cash management, transaction processing, parts, supplies, merchant services, and outstanding 24/7 customer and technical support. With offices in Temple, TX, West Palm Beach, FL and Clearwater, FL, CORD Financial Services is your ultimate resource for your ATM needs. For more information, visit www.CORDfinancial.com or call 800-410-5217.
About Sky Processing
Founded in 1998, Sky Processing provides ATM processing services to merchant locations in Puerto Rico. Sky is the largest ATM operator in Puerto Rico.
About Tremont Capital Group
Tremont Capital Group is the leading provider of business strategy consulting and merger & acquisition advisory services to the ATM ISO industry. To learn more about the services provided by Tremont Capital Group, please visit www.tremontcapitalgroup.com or call 617-482-8866.