Armed Crime Squad Detective Acting Inspector Mark Ward is urging locals not to be concerned about more ATM thefts after four people were arrested on Tuesday morning.

Armed Crime Squad detectives arrested a 34-year-old man from Wendouree, a 38-year-old from man Haddon and a 41-year-old man from Brown Hill along with a 29-year-old Ballarat woman about 7am following the execution of warrants.

Inspector Ward confirmed a swag of dangerous items were seized during these raids.

"Investigators have seized in excess of 20 firearms, a quantity of explosives, a small amount of cash and other items related to these offences," he said.

The three men have been charged with multiple counts of burglary, theft, criminal damage, attempted theft and prohibited possession of a firearm.

The woman has been released but is expected to be charged on summons with possessing the proceeds of crime.

Inspector Ward was confident in stating that the community should no longer be concerned regarding similar offences occurring again following the arrests.

"I wish to reassure the community that investigators are not looking for any other offenders."

The arrests were made concluding a four month investigation which saw seven similar incidents occur, spanning from Dunkeld to Queenscliff. 

The incidents included a community centre in Beaufort on November 29, a book shop in Creswick on December 14, an opportunity shop in Skipton on December 15, a bank in Dunkeld and a community centre in Lake Bolac on December 29, a marina in Queenscliff on January 13 and finally a newsagency in Clunes on March 4.

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.

While no firearms or explosives were used as any of these burglaries, Inspector Ward believes this type of offending and the seizure of these items is still a major cause for concern for police.

"This type of offending, like what we've seen in the most recent offence in Clunes, is very disturbing for the community and it also creates great harm to the people in those areas."

The three men have been remanded to appear at Ballarat Magistrates’ Court on Wednesday morning.

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