DALLAS and SCOTTSDALE, Ariz., Sept. 17, 2018 /PRNewswire/ -- Talus, a leading fintech payment solution provider to 25,000+ small and medium sized business clients across the U.S., today announced the completion of its acquisition of Scottsdale-based Prolific Business Solutions.
Talus, a portfolio company of Alvarez & Marsal Capital Partners (AMCP), has now completed three payment technology and portfolio acquisitions over the prior 18 months, and has committed an additional $250 million of acquisition capital behind Talus CEO, Scott Cruickshank, and his management team. "We are proud and excited to continue our partnership with Talus. Led by Scott, this group of senior fintech thought leaders at Talus have built an impeccable reputation centered on technology driven payment solutions for merchants across attractive industry verticals," said Mike Odrich, Senior Managing Director and Co-Founder of A&M Capital.
"We look forward to supporting the continued success of Talus and providing additional capital resources to accelerate the next period of organic and acquisition-led growth," added Rob Haisch, Principal of A&M Capital Partners.
Cruickshank is a 30+ year veteran of the payment industry, having led the successful growth and expansion of several notable fintech payment organizations as a C-level executive with First Data/Bank One Payment Services, Paymentech (now Chase Paymentech), and CyberSource. Most recently, Cruickshank served as Chairman & CEO of Austin, TX based, CSID, leading the growth and market expansion of CSID toward a successful sale to Experian for $360 million in August of 2016. "I couldn't be more pleased to be working with Mike, Rob and the AMCP team as we continue to execute on both our organic and acquisition-related growth strategies. Together, we have a clear plan to evolve and grow Talus into the domestic market leader in payment services for the SMB market."
"Further, we are thrilled to have the Prolific Business Solutions team now a part of the Talus family. In addition to our Dallas headquarters location, we will also be expanding and growing our presence in Scottsdale going forward," added Cruickshank.
"Over the last decade, Prolific positioned itself as an industry leader in the Healthcare, Hospitality, and Non-Profit sectors. We are thrilled to have Talus propel our differentiated technology offerings forward. We are equally as thrilled for our clients and team members to become part of the Talus family," said Danny Mikhail CEO & Founder of Prolific Business Solutions.
The Strawhecker Group acted as portfolio advisors, and Winston & Strawn LLP as legal advisors to Talus. May Potenza Baran & Gillespie acted as legal advisers to Prolific Business Solutions.
Talus is a technology-driven company that puts client success above all else. While Talus stays ahead of the technology curve by providing products and services that help merchants run their business more profitably, it's the support their clients receive that separates Talus from the average payment processor. Banks, businesses, and franchisors that are looking for a payments partner who can provide great rates for their merchants, recurring revenue, the latest technology, and the highest-rated client support in the payments space, visit us at taluspay.com.
About Prolific Business Solutions
Prolific Business Solutions was founded on the principle of integrity in 2006. As one of the nation's largest business service providers, we pledge to offer the best service and technology in the industry. From POS software, loyalty & rewards software, merchant services, digital marketing, e-commerce solutions and other business services, we provide the tools our clients need to succeed and stay ahead of their competition. By keeping such high standards, we have been able to secure one of the highest reputations in the Healthcare, Hospitality and Non-Profit sectors, earning multiple awards over the last decade. Our primary objective is to help our clients become Proficient, Profitable, Prolific!
About A&M Capital
A&M Capital is a private equity firm which invests in established and profitable companies within the middle-market. A&M Capital currently manages funds with commitments totaling approximately $2.2 billion of private equity capital. A&M Capital has a strategic association with Alvarez & Marsal, an industry-leading corporate advisory firm focused on consulting services which gives A&M Capital the distinctive capability to bring operational resources and support to the companies with which they partner. The principals of A&M Capital have a combined 135 years of experience executing private equity transactions in the middle-market.