Pacific Processing funds $10M capital fund to acquire ATM deployers

Pacific Processing, an ATM equipment and services company, raised $10 million to fund partial or full acquisitions of ATM deployers within Southern California and Las Vegas. Independent ATM Deployers can also sell a small piece of their company through a Micro Partnership to Pacific Processing and use that cash back into their cash-loading inventory, according to a press release.

«When I first started my ATM business in 2008 – with just a $5,000 loan – I continuously plateaued through different partner investors. I often outgrew their capital capacities faster than anticipated,» Gianni Del Vecchio, CEO and founder of Pacific Processing. «It doesn't have to be this way. I built this fund to alleviate the cash-intensive hamster wheel pressure felt by IADs that often prevents them from having a higher quality of life and the ability to grow to their maximum potential. The goal with this acquisition/partnership program is to help IADs accomplish their dream of being a business owner, instead of having the business 'own them.'»

In particular, Vecchio said these services are built to help ATM operators scale and «have more control over their growth.»

Source: ATM Marketplace