FT Partners' Seventh Consecutive Highly Successful Payment / Merchant Processing Transaction, Solidifying FT Partners as Clear Leader in Sector
SAN FRANCISCO, Aug. 30, 2011 /PRNewswire/ -- Financial Technology Partners LP and FTP Securities LLC (together, "FT Partners"), are pleased to announce the completion of another highly successful transaction in the payments and financial technology sector, serving as sole strategic and financial advisor to Solveras Payment Solutions on its sale to TransFirst, a leading provider of transaction processing services and payment enabling technologies. TransFirst is a portfolio company of private equity firm Welsh, Carson, Anderson & Stowe.
The transaction highlights FT Partners' long history of executing successful payment processing transactions, having represented industry leaders such as: Solveras, EDC, YapStone, Mercury Payment Systems, Custom House, Verus and Lynk Systems in successful transactions.
Solveras, headquartered in Arlington, VA, is an independent sales organization providing comprehensive payment processing services to small- and medium-sized merchants. Solveras' unique franchise and telesales engine introduce an additional sales, marketing and partnership model to TransFirst's existing merchant services business.
"We're very excited about this outcome on many levels, as this is our 7th straight success in the payments space in as many attempts," said Steve McLaughlin, Managing Partner of Financial Technology Partners. "TransFirst is the perfect partner for Solveras and we are pleased to have worked with such a talented team at Solveras to help make this happen."
"The FT Partners team more than delivered on their promises, as well as their reputation for integrity and first class client service," said Brian Bates, Solveras' CEO. "I would highly recommend the FT Partners team to any CEO in the financial technology space and I certainly look forward to working with them in the future."
FT Partners was named "Investment Bank of the Year" in 2004 and 2006 and was also recognized as "DealMaker of the Year" in 2007, 2008 and 2009, in addition to receiving multiple transaction awards highlighting the outstanding achievements and results obtained for clients.
Selected FT Partners Transactions:
- Solveras' sale to TransFirst / Welsh, Carson, Anderson & Stowe
- The $145 million sale of EDC to Cardtronics
- YapStone's $50 million minority investment led by Accel Partners
- Mercury Payment Systems' approximately 60% strategic investment by Silver Lake
- The $370 million sale of Custom House to Western Union
- The $525 million sale of Lynk Systems to The Royal Bank of Scotland
- The $325 million sale of Verus Financial Management to Sage Group PLC
- The $177 million Initial Public Offering for VeriFone
- The $292 million debt recapitalization for VeriFone
- The $300 million acquisition of iPay Technologies by Jack Henry
- The $60 million acquisition of Goldleaf Financial by Jack Henry
- The $245 million sale of Corillian Corp to CheckFree
- The $40 million Series C financing for ViVOtech
- The $45 million sale of Alogent to Goldleaf Financial
About Financial Technology Partners LP and FTP Securities LLC
FT Partners is the only investment banking firm focused exclusively on providing strategic and financial advisory services to CEOs in the dynamic financial services and technology sector. The firm offers strategic advisory services in mission-critical transactions including mergers, acquisitions, IPOs, LBOs, refinancings, recapitalizations and private capital raisings. FT Partners was named "Investment Bank of the Year" in 2004 and 2006 and was also recognized as "DealMaker of the Year" in 2007, 2008 and 2009. Any securities related transactions contemplated by or acted upon hereunder are conducted by FTP Securities LLC, a FINRA broker-dealer and a wholly owned subsidiary of Financial Technology Partners LP. For additional information, please visit www.ftpartners.com.
About Solveras
Founded in 2000, with operations in Arlington, VA, and Nashville, TN, Solveras Inc. provides complete electronic payment services to businesses and not-for-profit organizations nationwide. Products and services include software and processing support for MasterCard®, VISA®, American Express®, and Discover® credit card transactions, debit card processing, Internet-based virtual terminal systems, electronic check services and electronic gift and loyalty cards. For additional information, please visit www.solveras.com.
About TransFirst
TransFirst is leading provider of secure transaction processing services and payment enabling technologies, offering innovative products and services designed with financial institution, independent sales organization, healthcare, e-commerce, government and merchant customers' unique needs in mind. Founded in 1995, TransFirst continues to attain significant market share and world-class expertise in growing and profitable industry segments. Built on a platform of personal service, customer commitment and flexible pricing, TransFirst is headquartered in Hauppauge, N.Y., and has operations facilities in Aurora, Colo., Broomfield, Colo., Omaha, Neb., Overland Park, Kan., and executive headquarters in Dallas, Texas. Company-wide, TransFirst currently processes approximately $30 billion in annual sales volume for thousands of merchants and financial institution partners. For additional information, please visit www.TransFirst.com.
SOURCE Financial Technology Partners LP and FTP Securities LLC
