NetSpend’s products include general purpose reloadable prepaid debit cards, general purpose gift cards and debit card programs for large credit card issuers and other consumer-driven companies. NetSpend is the only company in its market to perform in-house, front-end marketing and back-end processing. NetSpend is based in Austin, TX (ww.netspend.com).
JLL acquired its stake in NetSpend when it merged Skylight Financial, a portfolio company of JLL Funds IV and V acquired in 2007, into NetSpend in July 2008. “As the largest shareholder of NetSpend, we are very proud of the growth and performance achieved since we partnered with the company in 2008. Dan Henry and the NetSpend team have grown earnings in excess of 30% per year. We believe that this will be a transformative acquisition for Total Systems Services,” said Kevin Hammond, a managing director at JLL.
Total Systems Services (NYSE: TSS) is a provider of payment services to financial and nonfinancial institutions. The company is based in Columbus, GA (www.tsys.com).
JLL Partners seeks to invest in companies across a range of manufacturing and service industries. Sectors of specific interest include healthcare services, medical products, food and consumer products, chemicals, broadcasting, transportation, automotive, industrial manufacturing, and distribution. JLL Partners is based in New York (www.jllpartners.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 7-2-13