Cashbox to cash in
Article Date: Mar 15 2006
AIM will welcome yet another cash machine operator to its ranks next week, through the arrival of Cashbox. Advised by Seymour Pierce, the company originally planned to make its debut today but has postponed its launch by a week after securing some additional last minute funding.
Following in the footsteps of Cardpoint and Scott Todd and fronted by brothers Carl and Matt Thomas (respectively chief executive and operations director) Cashbox has now secured close to £4.5 million from investors and currently operates around 850 ATMs across the UK. Locations range from pub chains to corner shops and strong relationships with the likes of off-licence chain Threshers and pub operator Greene King have already been established.
The cash raised on flotation will be used to expand this estate. For the near future, the brothers are eyeing a further 583 installations and, longer-term, they see room for up to 5,510 more machines. ‘Gaining critical mass in this market is crucial and we believe we will achieve this once we have 1,900 ATMs installed around the UK. We expect to achieve this by the end of 2006,’ Carl Thomas says.
