Grant Victor, headquartered in Salt Lake City, Utah, is a leading ATM service provider through its subsidiaries eGlobal and ATMequipment.com. eGlobal is a top ten provider of ATM placement and processing services andATMequipment.com is the #1 provider of retail ATM equipment, parts, supplies, and repair services. A third subsidiary at the time of our investment, OptConnect, became the #1 provider of wireless communication service plans to retail ATM owners and operators. The Company was founded in 2000 by Tim and Burt Matthews.
Endeavour partnered with the founders in 2011 to help Grant Victor achieve the next stage of its growth. Endeavour was attracted to the Company’s strong culture, commitment to customer service, leading market position and prospects for innovation.
Throughout Endeavour’s investment, Grant Victor focused on pursuing organic growth initiatives in its existing subsidiaries, considering new service offerings and selectively evaluating acquisition opportunities. The Company succeeded in significantly growing the OptConnect division into a market leader, while also expanding OptConnect’s end markets and technical capabilities. OptConnect ultimately became the primary value driver of Grant Victor and an innovator in the Internet of Things marketplace. In 2017, Grant Victor divested OptConnect to a private equity firm with experience in the space, which drove the majority of Endeavour’s value creation. In 2019, Endeavour sold its remaining position in the business back to the Matthews family.