Ezee ATM Inc. and Newport Partners have formed a new partnership, Ezee ATM LP, designed to consolidate Canada’s white-label ATM industry.

Ezee ATM is currently Canada’s second largest white label independent service organization with more than 1,550 ATM management contracts dispensing in excess of $500 million cash annually.

The partnership will be aggressively pursuing acquisition opportunities and is currently in negotiations with a number of potential candidates. In addition, Ezee ATM will enter into management agreements with owners of Canadian ATM portfolios looking for a more efficient operating model.

“We’ve spent the past three years developing the operational infrastructure required for consolidation, and with Newport’s financial expertise, we now have the capital we need to grow. We’re very confident in our ability to execute on this strategy,” said Gordon Metcalfe, CEO of Ezee ATM LP, in a news release.

Newport Partners is a Toronto-based firm providing personal and corporate wealth management for successful Canadian business owners, entrepreneurs and their families. The firm has approximately $650 million in public and private assets under management.