ATM Giant Raises New Capital

Register now

PORTLAND, Ore. - (10/03/05) -- TRM Corp., the operator of thesecond largest fleet of ATMs, said last week it raised $40 millionwith a private placement of 2.8 million common shares at $14.54each. TRM will use the funds to pay down and debt and financeacquisitions. TRM, which acquired eFunds' 17,200 ATMs last year,operates more than 23,000 ATMs and is the second largestindependent operator of ATMs in the country. Cardtronics, with afleet of 29,000 machines, is the largest. About 7,000 of the TRMmachines form the backbone of the credit union-owned CO-OPNetwork.

For reprint and licensing requests for this article, click here.