Armed Crime Squad detectives, with the assistance of the Ballarat Divisional Response Unit, executed five search warrants in Ballarat, Wendouree, Corindhap, Haddon and Brown Hill about 7am on Tuesday. 

A 34-year-old Wendouree man, 38-year-old Haddon man and 41-year-old Brown Hill man were arrested. 

Detectives have seized a number of firearms, cars, grinders, a sledgehammer and items believed to be related to the ATM thefts.

The arrests follow an extensive investigation into seven burglaries, thefts and attempted thefts at a variety of business premises between November 29 and March 4. 

The thefts were reported in Beaufort, Creswick, Skipton, Dunkeld, Lake Bolac, Queenscliff and Clunes. 

On each occasion it is alleged the thieves targeted ATMs with either heavy equipment vehicles used to crash through street shop fronts, or equipment used to force entry to the premises.

It is alleged a substantial sum of money was stolen during some of the break-ins.

On December 15 offenders attempted to break into the rear of a Commonwealth ATM in Skipton about 1.50am. 

The ATM was connected to a Skipton opportunity shop. 

The offenders were disturbed by a local security guard and they decamped on foot.

Then on December 29 offenders attempted to break into an ATM located at a bank in Dunkeld.

They were disturbed and left empty handed. 

The offenders then attended a community centre in Lake Bolac where they successfully stole a substantial amount of cash.

Police have released images of the most recent incident and damage at Clunes on Monday.

The men are currently assisting police with their inquiries and are expected to appear in Ballarat Magistrates Court later today.

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