Security firm Brink’s Co. said it has acquired PAI Inc. for $213 million. PAI is the largest privately held ATM services provider in the U.S. Headquartered in Dallas, PAI employs 225 people.
On a current full-year basis, PAI is expected to generate revenue of approximately $320 million and adjusted EBITDA of approximately $30 million.
PAI is expected to add about $240 million revenue and $22 million adjusted EBITDA to the company’s 2021 results and is expected to be accretive this year.
PAI offers managed services and tools for ATM owner-operators and PAI-owned ATMs, including its SaaS-based technology platform (AMP+), which maximizes ATM network performance and provides real-time visibility.
PAI’s field services are built around its Vantage Technical Services cash management and maintenance solution for ATM devices.
PAI provides Brink’s with a platform of proprietary ATM services and more than 100,000 ATM service locations in the U.S.
In Europe, Brink’s recently entered into agreements to take ownership of more than 11,000 ATMs.