Executive Chairman Peter McNamara founded NoteMachine in 2006, with backing from Rutland Partners private equity. His vision was a totally integrated business using high quality information to track the performance of the ATMs in minute detail.
Peter recruited Chief Operating Officer Nigel Constable and Sales Director Charlie Evans, both with considerable knowledge of the ATM industry, and NoteMachine Holdings acquired the Scott Tod ATM and change machine supplier with about 1,900 ATMs. In 2007, NoteMachine bought the UK and German businesses of its US-owned competitor, TRM.
NoteMachine expanded its cash in transit (CIT) operations to take on a further 1,350 ATMs previously serviced by a third party cash carrier, achieving significant cost reductions.
In 2008, NoteMachine began a programme to find suitable UK sites for through-the-wall (TTW) ATMs; this programme is an essential part of NoteMachine's future growth strategy.
In December 2010, NoteMachine acquired 1,000 off-site ATM contracts and hardware from a major financial institution. This transaction significantly increased the size and profitability of its ATM estate, positioned it as the leading UK IAD and increasing the proportion of free-to-use ATMs. The operating cost of each ATM across the estate fell. A further contract for several hundred free-to use ATMs from a major financial institution followed in early 2011.
NoteMachine opened a second operation in North London in 2011 to handle the expansion arising from the financial institutions and other ATM growth.
Further expansion is in the offing, reinforcing NoteMachine's position as the largest owner and operator of ATMs in the UK. Business is also growing significantly in Germany with new agreements recently concluded with banks and others, as well as establishing a strong pipeline of new sites.
NoteMachine's in-house business functions comprise:
• An experienced national ATM sales force
• Dedicated teams of surveyors, installers, engineers and repair staff
• A 24/7 customer service centre
• An in-house CIT function operating just-in-time cash deliveries and two cash vaults
• A security team to minimise cash losses; and
• Industry-leading software, supporting all operations and providing a wealth of data, which is used to manage efficiently and provide a high quality customer facing service.
