LANCASTER, PA — Paramount Management Group has announced its partnership with Washington-based independent ATM service provider, Cypress Advantage. The move marks an important expansion for Paramount, adding 7,500 machines to their national network and enhancing their ability to support smaller ATM deployers.
Cypress Advantage, established in 1996 by Samantha and Michael Guthrie, has earned a strong reputation as a trusted partner for independent ATM deployers (IADs) across the U.S. The company offers a comprehensive suite of products and services, including equipment, parts, and processing, as well as technical and sales support.
Paramount’s acquisition of Cypress Advantage is poised to provide numerous benefits to Cypress’ IADs. Maya Fuentes, Paramount Senior Vice President M&A Business Development, expressed enthusiasm about the partnership. “This acquisition will benefit Cypress’ IADs by providing the personalized service they are accustomed to, and access to additional products and services provided by Paramount,” she said.
The deal also promises enhanced pricing leverage for distributors, along with the support to select from multiple processors. This could potentially improve profit margins by enabling the offering of value-added services. Samantha Guthrie, co-founder of Cypress Advantage, expressed confidence in the merger. “I feel confident we are leaving our clients in good hands with Maya and her team at Paramount,” she said.
Randall Leaman, Paramount CEO, echoed this sentiment. “This acquisition strengthens the business the Guthrie’s have built by providing Cypress clients with additional access to the best products, pricing, and services in the industry,” he said.
For the automated teller machine industry, this acquisition could mean a significant shift in the competitive landscape. With Paramount’s extensive resources and partnerships, they may be able to offer more competitive pricing and innovative solutions for ATM distributors. This could potentially give them an edge over competitors and attract new clients.
As Paramount continues to expand its footprint across the U.S., it’s clear that strategic acquisitions like this are key to its growth strategy. In an industry that is constantly evolving, partnerships like these can play a crucial role in enhancing service delivery and customer satisfaction.
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