The reconfiguration of Australia’s ATM sector is set to take another turn, with industry sources indicating that independent ATM operator Cashpoint Payment Solutions Pty Ltd has been put up for sale.

Banking Day was notified late on Tuesday by several respected industry sources that the owners of the Sydney-based company were in advanced negotiations to offload the business to a potential buyer.

Cashpoint is one of the largest independent ATM deployers in NSW, Queensland and Victoria, servicing pokies venues at hundreds of hotels and sports clubs.

The company was founded 15 years ago by managing director Scott Smith and marketing manager, Cassandra Smith.

While the company does not disclose on its website the size of its network, a 2017 study of the ATM industry by the Australian Competition and Consumer Commission estimated the fleet at 500 machines.

The heavy industry talk that the founders are poised to sell the business came after a bout of activity on Cashpoint’s share register last week, which resulted in former Bankers Trust Australia executive, Brad Prout, emerging with a material interest in the company.

Prout is a founder and director of FC Capital, an active alternative asset manager based in Sydney.

According to disclosures made to ASIC, an FC Capital subsidiary acquired more than 8 million shares in the Cashpoint business on 9 March, which were paid up to the value of $8.44 million.

Investment vehicles controlled by the Smiths hold almost 20 million shares that are paid up to $19.7 million.

The national ATM industry has undergone a strategic restructure in the last three years as major banks and CUSCAL have offloaded large fleets to Linfox Armaguard and Prosegur.

The imminent sale of Cashpoint might signal that a consolidation of independent ATM deployers focused on the niche clubs and pubs market.