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June 28, 2019

Advent to buy majority stake in payments firm Transaction Services Group

Private equity firm Advent International has agreed to purchase a majority stake in payments solutions provider Transaction Services Group (TSG).

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The seller is middle-market private equity firm Calera Capital, who first invested in TSG in 2015.

The companies did not reveal the value of the transaction.

Advent partner Jeffrey Paduch said: “TSG represents a unique platform at the nexus of business management software and payments, which is well positioned for future growth.

“We are excited to support TSG to drive product innovation and further expand its geographical footprint.”

TSG serves a range of sectors such as healthcare, education, insurance, sports and entertainment.

The business has presence in New Zealand that serves as its base as well as Australia and the UK. It launched in 1994,

The firm is said to have grown its revenue by more than double in the past three years.

TSG group CEO Steven Holmes said: “Advent’s distinguished track record in the payments and software space and global presence will be invaluable for TSG as we enter into the next phase of international expansion.”

In the last decade, Advent has invested $3.8bn in nine payment firms.

Earlier this year, the private equity firm acquired a 51% stake in Argentinian payments firm Prisma Medios de Pago.

 

 

Free Report
img

Prepare for changes in the Payments market

 The Payments market has seen drastic changes in the past few years, with this only expected to continue. What does your company need to do to prepare for what’s to come? GlobalData’s Payment Trends for 2022 report explores the key trends in technology, consumer habits, and regulations shaping the market. We also identify the leading companies in this changing market, giving you a competitive market outlook. This report covers the impact of:
  • ESG
  • E-commerce
  • Mobile payments
  • Alternative payment rails (Real-Time Payments, Blockchain, BNPL)
  • Fraud & Cybersecurity
  • Regulations
Download the report now to learn essential strategies to maximize your growth in the face of rapid change.
by GlobalData
Enter your details here to receive your free Report.

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