2/21/2023 0 Comments Brinks security careers![]() ![]() “Our strong balance sheet and cash flow give us the flexibility to return capital to shareholders as we continue to invest in growing our business.” “Our ongoing plan to continue repurchasing shares demonstrates the confidence we have in our future growth and is consistent with our capital allocation strategy,” said Eubanks. In the third quarter of 2022, Brink’s repurchased a total of 501,560 shares of its common stock for an aggregate of $27.3 million and an average price per share of $54.36 under its previously authorized share repurchase program. “Under Corsair’s ownership, NoteMachine has made significant progress, and Brink’s will build on that momentum with greater scale to drive sustainable organic growth,” said Bowcock.īalanced Capital Allocation Strategy Includes Share Repurchases in Q3 This is absolutely the right direction for NoteMachine, our customers and our employees,” said Bowcock, who has been working closely with NoteMachine’s existing ownership group, including majority shareholder Corsair Capital, which will exit the business. Philip Bowcock, CEO of NoteMachine, said, “Brink’s is a global leader in tech-enabled cash management, with a strong presence in ATM outsourcing. “We will leverage NoteMachine’s fully integrated model, including its global TestLink parts business, to support growth across both financial institution and retail customer segments,” said Dove. “NoteMachine’s expertise, monitoring and dispatch center, and software technology infrastructure will be of great strategic value in supporting the growth of our global ATM operations, especially those in Europe.”ĭavid Dove, leader of Brink’s global ATM managed services business, will oversee and support NoteMachine’s management team. “We have been actively growing our ATM managed services business, both organically and inorganically, and this is an important step in the execution of our long-term strategy,” said Mark Eubanks, president and CEO of Brink’s. The acquisition expands the footprint of Brink’s ATM managed services business to approximately 130,000 ATMs worldwide. Headquartered in Crickhowell, United Kingdom, NoteMachine manages more than 9,000 ATMs. The acquisition is expected to be accretive to earnings in the first year and was financed using available cash and Brink’s existing credit facility. For the fiscal year ended June 30, 2022, NoteMachine generated revenue of approximately $131 million and adjusted EBITDA of approximately $36 million at current exchange rates. 03, 2022 (GLOBE NEWSWIRE) - The Brink’s Company (NYSE:BCO) today announced its acquisition of NoteMachine, one of the leading ATM networks in the United Kingdom, for approximately $179 million or 5.0 times adjusted EBITDA. Supports Growth Initiative s, Expected to be Accretive to Earningsīalanced Capital Allocation Strategy Includes Share Repurchases in Third Quarter ![]()
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