PORTLAND, OR -- Specialty Coin Products has announced its acquisition of Mountain Coin Machine Distributors, which was headquartered in Salt Lake City. The transaction closed on Aug. 4.
SCP will continue to serve the territories covered by MCMD, which has formally closed its offices in Colorado, Nevada, Oregon, Utah and Washington.
Specialty Coin, which presently has branches in Seattle and Salt Lake City, plans to strengthen its presence in Salt Lake City while continuing to cover Las Vegas and Denver. The company said that it is retaining many Mountain Coin staff members to reinforce its service capabilities in the wider market. Specialty Coin will also take on the vending equipment sales and service formerly represented by Mountain Coin.
In a joint announcement about the acquisition, MCMD president Carson Jenkins said structuring the sale was difficult, but the end deal achieves three main goals the two companies share: to ensure that Mountain Coin customers receive continued support; to create jobs for Mountain Coin employees; and to strengthen the role of distribution in the region. "When I looked at the overall industry, particularly the western U.S., it just made sense to approach Mike [McWilliams, SCP's owner] and put a deal together," said Jenkins, a 21-year coin-op and vending veteran.
Customers of both distributorships can call (800) 987-4946 to reach the sales, customer support, service and parts departments. SCP is preparing an updated contact list, which will be emailed to customers in the near future. And a new SCP website is now under construction.
Specialty Coin Products was established in mid-1994 by its president, Mike McWilliams. Mountain Coin Machine Distributors dates back to the mid-1960s; it extended its reach to the Pacific Northwest with its acquisition of another old-line distributorship, Music Vend/Dunis Distributing (Seattle) in 2001.