Fastrak Retail

May 7, 2019

Cheshire manufacturer of point-of-sale display products sold to Canadian firm Founded in 2000 by John Barrett and Steve Matthews, Fastrak employs 26 staff and has its offices, factory and warehouse in Macclesfield. Share Subscribe Could not subscribe, try again laterInvalid Email A company which designs and manufactures lottery ticket dispensers and other retail point-of-sale display products has been sold to a Canadian buyer. Fastrak Retail (UK), which is based in Cheshire, has been acquired by Pollard Banknote. Pollard has paid an initial consideration of £4m plus working capital adjustments, with potential earn-out payments due in the future. Founded in 2000 by John Barrett and Steve Matthews, Fastrak employs 26 staff and has its offices, factory and warehouse in Macclesfield. The £6m-turnover company is a leading provider of lottery ticket dispensers and play points. Read More   It supplies a number of major international lotteries, including those in the UK and Ireland, and recently won a major contract for the Illinois state lottery. Fastrak also supplies retail point-of-sale display products and services to global consumer brands. Pollard, which is based in Winnipeg and is listed on the Toronto Stock Exchange, is a leading partner to more than 60 lotteries worldwide, providing instant ticket print products, licensed games and digital offerings. Following the deal, John Barrett will continue as managing director alongside commercial director Mick Tooley, before moving into a consultancy role to focus on innovation and design for Fastrak and the Pollard group. Steve Matthews will stay on in a design consultancy role. John said: “Joining the Pollard group will strengthen Fastrak’s offering to the lottery market and will provide the support required to expand Fastrak to the next level. “Additionally, it will help the business offering to expand its markets in Europe and the USA. “Fastrak’s operations in the UK will be a great asset and stepping stone into Europe for the Pollard group and will add additional design and manufacturing resources as and when required.” Read More   Ben Bradley and Ian Dawson, of HURST Corporate Finance, and Liz Gallagher and James Hamilton of HURST’s tax team, advised Fastrak’s shareholders on the deal. Tom Hall, Gabrielle Cummins and Miranda Foy of Pannone Corporate provided legal advice. Ben Bradley said: “It has been an absolute pleasure to have advised Fastrak’s shareholders on the acquisition by Pollard Banknote. “Fastrak has a fantastic history of entrepreneurship and innovation resulting in its market-leading lottery and retail point-of-sale display product offering. “This acquisition is a great example of the interest being shown by international strategic buyers in strong UK businesses.” Read More