213-Location Texas ATM Portfolio, San Antonio Area, Professionally Managed

$650K

SDE

4.6x

Multiple

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Full Editorial Writeup

This is a portfolio of approximately 213 active ATM locations spread across Texas, with the heaviest concentration around San Antonio and additional machines elsewhere in the state. The business generates roughly $650,164 in annual investor income and is priced at $2,990,000, a 4.6x cash flow multiple. The transaction transfers installed equipment, active merchant placements, transaction history, and the reporting and processor infrastructure that runs the route.

What separates this from a typical ATM route is that the machines stay under professional management after closing. The buyer does not personally handle cash loading, servicing, maintenance coordination, or field operations. The ownership role is deliberately narrow: monitor performance, review the numbers, and make capital allocation decisions. That structure makes this a semi-passive cash flow asset rather than a job.

The ATM route model earns per-transaction surcharge revenue from a diversified base of over 200 merchant locations, which reduces single-site concentration risk. For an existing operator, this is an instant Texas footprint that would take years to build organically. For a financial buyer, it is a functioning business with existing transaction volume rather than a route that still needs to be assembled. Note that no seller financing is offered, so the buyer needs full capital or outside funding at close.

Why we like it

Earnings quality is straightforward per-transaction surcharge income across roughly 213 machines, producing $650,164 in cash flow with no single location carrying the portfolio. Diversification across 200-plus merchant sites means the loss of any one placement barely moves the number. The revenue is transactional and predictable rather than dependent on winning new large contracts.
The moat is scale and merchant relationships that are slow and expensive to replicate. Texas has a fragmented ATM market of individual operators, and building a comparable footprint organically would require securing hundreds of merchant agreements one at a time. Owning the placements and the reporting infrastructure creates real switching friction with those merchants.
ATM cash access is genuinely recession-resilient because people withdraw cash regardless of the economic cycle, and downturns can actually increase cash usage. Surcharge revenue is a small per-transaction fee that consumers rarely resist. This is a boring, durable cash stream rather than a discretionary spend that gets cut first.
The professional management structure that stays in place post-close is the operator advantage here. The buyer does not load cash or service machines, which turns this into a monitor-the-numbers asset that can layer on top of an existing route or portfolio. That makes it attractive to an absentee-leaning owner or a consolidator who wants scale without operational headaches.

How to improve it

Audit machine-level transaction data in the first 90 days to identify underperforming placements. Low-volume ATMs can be relocated to higher-traffic merchants or removed to cut servicing cost, immediately lifting portfolio-level economics without new capital.
Renegotiate surcharge splits with merchants at high-volume locations where the operator captures a larger share. Even a small increase in the average surcharge or a better split on the busiest sites flows almost entirely to the bottom line given fixed servicing costs.
Pursue tuck-in acquisitions of smaller Texas routes that can be folded into the existing management structure. The fragmented market means many single-operator routes are available cheaply, and bolting them onto existing infrastructure spreads fixed cost across more machines.
Add placements within markets the portfolio already services, particularly San Antonio, to densify the route. New machines in areas already covered by the management structure carry very low incremental servicing cost per unit.
Review and potentially competitively bid the cash loading, servicing, and processing contracts. Since operations are outsourced, the fees paid to those providers are a major cost lever, and consolidating volume can win better rates.
Upgrade older equipment to newer machines that support higher transaction throughput and features like EMV compliance and dynamic surcharging. Selective capital upgrades at the busiest sites protect volume and reduce downtime-related lost transactions.
Build a simple performance dashboard tracking per-machine transactions, uptime, and net income. Better visibility lets ownership catch declining sites early and reinvest capital toward the highest-return placements.

Diligence notes

Gross revenue is not disclosed, so verify how the $650,164 cash flow is calculated and confirm it is net investor income after servicing, cash loading, processing, and merchant splits. Ask for machine-level transaction reports and processor statements over at least 24 months to confirm the figure is real and stable.
Confirm the terms and cost of the professional management arrangement that continues post-sale, including whether it is a fixed contract, its duration, and whether the manager can raise fees. The entire value proposition rests on that structure staying in place at the stated economics.
Validate the count and status of the 213 locations, since ATM portfolios often carry inactive or low-volume machines. Request a per-site breakdown of transaction volume to confirm how many locations actually drive the income and how much concentration risk exists around San Antonio.
Review the merchant contracts for term length, exclusivity, and cancellation rights, because merchant churn is the primary risk in this business. Understand how many placements are month-to-month versus contracted and the historical rate of location loss.
With no seller financing available, model the full capital requirement including the cash held in the machines, which is a real working capital component often overlooked. Confirm who owns the vaulting cash at close and whether it is included in or on top of the asking price.

Source

Originally listed on BizBuySell. View original listing →