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Rock Island puts Welch ATM up for sale

2 Apr 2014

atm_170sqMid-market firm Rock Island Capital has reportedly put its portfolio company Welch ATM up for sale.

Rock island has hired William Blair to advise on the deal, said PeHUB, citing two sources.

The firm bought the Peoria, Illinois-based ATM operator in 2010 and Welch’s owner Jeff Hewitt also owns a stake.

Welch currently has a network of 22,000 ATMs around the US.

Last month AltAssets reported that Rock Island had raised more than $90m for its second fund.

The Oak Brook, Illinois-based firm currently has $150m in committed capital under management.

It makes majority and minority investments in mid-market companies with an enterprise value of up to $100m, focusing on the manufacturing, distribution and service sectors.

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