M&A Deal Summary

The CapStreet Group, Platform Partners and TA Associates Acquire Cardtronics

On January 1, 2001, private equity firms The CapStreet Group, Platform Partners and TA Associates acquired financial services company Cardtronics

Acquisition Highlights
  • This is The CapStreet Group’s 1st, Platform Partners’ 2nd and TA Associates’ 14th transaction in the Financial Services sector.
  • This is The CapStreet Group’s 8th, Platform Partners’ 5th and TA Associates’ 91st transaction in the United States.
  • This is The CapStreet Group’s 5th, Platform Partners’ 4th and TA Associates’ 9th transaction in Texas.
Investment Fate
  • Cardtronics went public in 2007.
  • Cardtronics was sold to a strategic buyer in 2021 for 2.5B USD.

M&A Deal Summary

Date 2001-01-01
Target Cardtronics
Sector Financial Services
Buyer(s) The CapStreet Group
Platform Partners
TA Associates
Deal Type Recapitalization

Target

Cardtronics

Houston, Texas, United States
Entrance to Cardtronics' corporate headquarters in Houston, Texas.
Entrance to Cardtronics' corporate headquarters in Houston, Texas.
Cardtronics is a provider of integrated Automated Teller Machine and financial kiosk products and services. Cardtronics was formed in 1989 and is based in Houston, Texas.

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Buyer(S) 3

Buyer

The CapStreet Group

Houston, Texas, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1990
PE ASSETS 650M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

The CapStreet Group is a private equity firm that primarily invests in businesses that were previously owned by entrepreneurs, families or other non-institutional investors. CapStreet typically looks for control investment situations, and has a preference for businesses located in the Southwest US. CapStreet typically invests between $10 million and $25 million of equity in companies valued less than $150 million. The CapStreet Group was formed in 1990 and is based in Houston, Texas.


DEAL STATS #
Overall 8 of 38
Sector (Financial Services) 1 of 1
Type (Recapitalization) 1 of 18
State (Texas) 5 of 27
Country (United States) 8 of 38
Year (2001) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2001-01-01 Independent Propane

Colorado, Texas, United States

Independent Propane is the largest retail propane distributor in Texas and has branch locations in six other states throughout the southern United States.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-01-01 Team Express Distributing

San Antonio, United States

Team Express is the leading multi-channel marketer of baseball and football related equipment. The Company, started in 1990, has been dedicated to providing fanatical customer service and ease of shopping to the baseball and softball players who demand the best performance products

Sell -
Buyer

Platform Partners

Houston, Texas, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2006
PE ASSETS 800M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Platform Partners is a private holding company that makes investments in small to mid-sized companies with a history of 'operating profitability'. The platform looks for growth situations and seeks to invest up to $75 million of equity capital per transaction. Prospective transaction situations include management-led buyouts of private companies, recapitalization of family-owned companies, and growth capital commitments to pursue strategic acquisitions. The Firm will consider both majority and minority positions. Platform Partners was formed in 2006 and is based in Houston, Texas.


DEAL STATS #
Overall 5 of 27
Sector (Financial Services) 2 of 6
Type (Recapitalization) 2 of 3
State (Texas) 4 of 20
Country (United States) 5 of 27
Year (2001) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2001-01-01 Avalon Advisors

Houston, Texas, United States

Avalon Advisors is a money management firm that manages equity, fixed income and balanced portfolios for wealthy families, endowments, foundations and trusts. Avalon provides a high level of customer service and customized solutions for clients in a cost effective and tax efficient manner. Avalon Advisors was founded in 2001 and is based in Houston, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-01-01 Baseball Express

San Antonio, Texas, United States

Baseball Express is the premier multi-channel marketer to the enthusiast baseball and softball player. Since its founding in 1990, Baseball Express has grown organically and through acquisition into the trusted source for players, coaches and parents seeking the latest, highest-quality equipment, apparel, shoes and accessories.

Sell -
Buyer

TA Associates

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1968
PE ASSETS 65.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

TA Associates is a private equity firm that targets investments in middle-market and large companies around the world. TA will consider control or minority investments in profitable companies and looks to commit between $70 and $500 million per transaction. TA proactively reaches out to companies directly in sourcing potential investment opportunities. Prospective businesses are generally valued between $100 million and $3 billion. Areas of interest include technology, software, communications, financial services, healthcare, business services, semiconductors/electronics, and consumer products/services. In addition to investing equity capital, TA also makes subordinated debt investments. TA's geographic preference is North America, Asia/Pacific, and Europe. TA Associates was formed in 1968 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 96 of 364
Sector (Financial Services) 14 of 51
Type (Recapitalization) 3 of 17
State (Texas) 9 of 28
Country (United States) 91 of 263
Year (2001) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2000-12-18 AXENT Technologies

Rockville, Maryland, United States

AXENT Technologies, Inc. is a supplier of network-based security software, principally focused on the Intranet.

Sell $975M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2001-01-04 Equinox Systems

Sunrise, Florida, United States

Equinox Systems develops and markets high performance, reliable and affordable connectivity solutions for remote access and multi-user applications.

Sell $57M