Banking solutions provider Cennox has received an undisclosed investment from the Business Growth Fund.
BGF has supported Cennox since 2012 and since then the company has increased its revenue from £15m to £40m,
Cennox is an end-to-end solutions provider for the banking, retail and commercial sector. The company offers ATM solutions, specialised parts and security products, among others.
Following the investment, the company has acquired asset protection and GPS tracking technology provider 3SI Security Systems. This is the company’s fifth investment in three years, with Cennox making its fourth in June, by purchasing ATM developer Diebold UK & Ireland.
These acquisitions will be used to scale its ATM manufacturing ability and new security products.
Cennox founder and CEO Clive Nation said, “Both the European business of 3SI Security Systems and that of Diebold UK & Ireland, have built fantastic reputations and long-standing relationships with their customers. They both have first-class teams of employees whose expertise will add real value to our existing offering.”
Cennox will continue looking for more acquisitions in the ATM sector to help global expansion.
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