FriOne of Canada's leading independent or "white-label" ATM operators and a provider of security systems, announced that it has acquired the 50 percent portion of the Frisco/ATMS Limited Partnership

Frisco Bay Industries Ltd., one of Canada's leading independent or "white-label" ATM operators and a provider of security systems, announced that it has acquired the 50 percent portion of the Frisco/ATMS Limited Partnership that it did not already own. According to a news release, this transaction is expected to generate additional annual revenues of approximately $3 million (about $2 million U.S.) and, once fully integrated, in excess of $1 million (about $672,450 U.S.) of earnings before interest, taxes, depreciation and amortization (EBITDA). The aggregate purchase price estimated at $6.3 million (about $4.2 million U.S.) after adjustments has been settled partly in cash, funded by a bank term loan, with a balance to be paid out of internally generated cash flow over two years. Frisco Bay's network of nearly 1,300 Canadian white-label ATMs processes in excess of 10 million transactions on an annual basis, according to the release. The Montreal Transit Society, Pearson International Airport in Toronto, Cadillac Fairview shopping centers, Gateway Casinos and McDonald's Restaurants are some of Frisco Bay's ATM customers.