Cennox - feature image - investment news

Cennox was founded in 2004 by Clive Nation as a specialist ATM services group and has been successfully built up through organic growth and acquisition to comprise of two main businesses:  ATM Parts and Mainet.  Blue chip customers include Barclays, HSBC, Nationwide, IBM, Bank Machine, Loomis and G4S.

ATM Parts is a leading international supplier of parts for ATMs and has developed and patented a security device that combats skimming from payment terminals.  The anti-skimming device is attached to ATMs and terminals and works by detecting a range of fraudulent activities and reporting the threat level to the ATM operator and to financial institutions.   This innovative security device is used by a number of international banks. Mainet supplies ATM signage, installation and facilities management services and is the UK’s leading ATM branding company.

BGF’s initial £3m equity investment in June 2012 enabled the Cennox group to fund working capital, invest in additional staff and ramp up its international operations. BGF has supported management in its plans to grow the business both in the UK and overseas.

BGF has since invested a further £2m to part fund the acquisition of US-based Sterling Group Inc in December 2013 which in turn acquired PSSI International Inc, a southern California-based company. The purchases significantly boosted Cennox’s US presence.

Cennox is headquartered in Camberley, Surrey and has several offices across the UK and US.
BGF has a minority stake in the business and a representative on Cennox’s board.