NEW YORK, Oct. 13, 2014 /PRNewswire/ --TransFirst Inc., a leading provider of secure payment processing, announced today that it will be acquired by Vista Equity Partners ("Vista"), a leading private equity firm focused on software, data and technology-enabled businesses. The acquisition will allow TransFirst to enter a new phase of growth focused on their end to end technology platform, growing their network of merchants and strengthening their base of partners.
"With over 200,000 merchants and more than 1,300 partners, we are well positioned to continue our current growth trajectory and solidify our position as the leading provider of payment processing solutions in the SMB Space," said TransFirst CEO John Shlonsky. "We are very grateful for the terrific partnership that we have had with WCAS since 2007, during which we have built TransFirst into an industry leader, and are incredibly excited to be entering this next phase of growth with Vista, who has such a strong track record of improving operational performance, supporting their management teams, and creating long-term sustainable value." Vista Equity Partners is a leading private equity firm with over $13.5 billion in cumulative capital commitments, focused on investments in software, data and technology-enabled companies. Vista has an extensive track record of successful transactions, helping companies achieve operational, product and customer service excellence by contributing professional expertise and proven best practices.
"TransFirst is a leading provider of secure transaction processing services and payment enabling technologies because they have a unique end to end technology platform and a focus on merchant and partner satisfaction," said Robert F. Smith, Chairman and CEO of Vista Equity Partners. "We are excited to build on that success, continuing to serve the needs of current merchants and partners while exploring new opportunities to accelerate growth."
"We have enjoyed our close partnership with the TransFirst management team over the last several years," said Eric J. Lee, General Partner at Welsh, Carson, Anderson & Stowe. "Together with WCAS, John Shlonsky, CEO of TransFirst, and his leadership team have done an outstanding job building the Company into a market leader. We are confident that TransFirst will continue to build on its continued successes together with Vista."
The transaction is expected to close later this year. Financial terms have not been disclosed.
Jefferies acted as financial advisor to Vista. Kirkland & Ellis acted as legal counsel to Vista. Goldman Sachs, Bank of America Merrill Lynch, JP Morgan, Deutsche Bank, Evercore, SunTrust Robinson Humphrey, William Blair, Wells Fargo, Raymond James, FT Partners, Credit Suisse, and Solebury Capital acted as financial or capital markets advisors to TransFirst Inc. Ropes & Gray acted as legal counsel to TransFirst Inc.
A leading provider of secure transaction processing services and payment enabling technologies, TransFirst offers innovative products and services designed with financial institution, independent sales organization, healthcare, e-commerce, government and merchant customers' unique needs in mind. By collaborating with our customers and utilizing strong industry knowledge, we can help them grow their businesses. 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, New York, and has operations facilities in Aurora, Colorado; Broomfield, Colorado; Franklin, Tennessee; and Cypress, California; and executive headquarters in Dallas, Texas. For additional information, please call 800.745.2659 or visit www.TransFirst.com.
About Vista Equity Partners
Vista Equity Partners, a U.S.-based private equity firm with offices in Austin, Chicago and San Francisco, with over $13.5 billion in cumulative capital commitments, currently invests in dynamic, successful software, data and technology-enabled organizations led by world-class management teams with long-term perspective. Vista is a value-added investor, contributing professional expertise and multi-level support towards companies realizing their full potential. Vista's investment approach is anchored by a sizable long-term capital base, experience in structuring technology-oriented transactions, and proven management techniques that yield flexibility and opportunity in private equity investing. For more information, please visit www.vistaequitypartners.com.
About Welsh, Carson, Anderson & Stowe
Welsh, Carson, Anderson & Stowe focuses its investment activity in two target industries, information/business services and healthcare. Since its founding in 1979, the Firm has organized 15 limited partnerships with total capital of $20 billion. The Firm is currently investing an equity fund, Welsh, Carson, Anderson & Stowe XI, L.P. See www.welshcarson.com to learn more.
SOURCE TransFirst Inc.