Clarendon Lawyers is delighted to have advised the Armaguard Group (Armaguard) on its purchase of Cuscal’s rediATM network, comprising Cuscal’s ATM assets, ATM services arrangements and the rediATM Scheme. The acquisition is expected to complete later this year.
The acquisition supports Armaguard’s growth by investing in technology that will see it continue to provide intelligent, innovative and sustainable solutions to its customers and the community at large.
The acquisition will allow Armaguard to quickly expand its core business and its customer offering by providing additional end-to-end currency management solutions, while at the same time positing itself as a leading player in the ATM utility market by obtaining an established business with a secure network of Scheme members and their customers.
Armaguard CEO Gary Allen noted “We believe our purchase is the natural and logical extension of our technology-driven ITS business, and reinforces the value of our existing ATM proposition.”
The Clarendons team was led by Director, Nick Manuell, who was assisted by Director, Caroline van Grieken (Property), Associate, Ingrid Mohr and Lawyers, Winsome Tam and Stephen Dyason and Graduate, Ayesha Singh.
Nick congratulated the Armaguard team on the transaction, stating that “It was great to be given the opportunity to assist Armaguard with an acquisition that is not only a natural extension of Armaguard’s current business model, but one that will ensure that ATM services continue to be provided to communities across Australia.”