UK - Rutland acquires ATM operator in £45.3m deal

Rutland Partners' portfolio company Notemachine Ltd has acquired TRM (ATM) Ltd, the UK operations of TRM Inc. for ТЃ45.3m. Notemachine, formerly Scott Tod was delisted from AIM by Rutland in September 2006 and TRM is a complementary business involved in the deployment of ATMs in the UK and Germany. Rutland has invested ТЃ11m in Notemachine from the Rutland Fund to support the acquisition with the balance of the funding coming from a debt package provided by Barclays and Kaupthing Singer & Friedlander. This brings the total investment in Notemachine from the Rutland Fund to ТЃ22.2m.