Calera Capital has acquired an equity interest in Transaction Services Group (TSG), a global provider of payment services. Murray Bolton, TSG’s Chairman, and other members of the senior management will retain a significant equity interest in the business.
Transaction Services Group is an outsourced provider of service technologies that enable businesses to accept recurring payments from customers. TSG’s services include payment processing, customer service, credit control, debt collection, data analytics and reporting. Annually, the company initiates over 50 million transactions worth more than $2 billion. The company operates under multiple brands including Debitsuccess, PaySmart, DFC and Harlands Group. The company is headquartered in Auckland, NZ and has operations across Australasia, Europe and North America (www.transactionservices.co.nz).
“TSG represents an extremely strong fit with Calera’s strategy. The company has a strong brand, a proven track record, and significant opportunities for further growth,” said Jim Farrell, a Managing Partner of Calera Capital. “Calera is committed to supporting the company with the capital and resources needed to realize the substantial potential of this high-quality enterprise.”
Calera Capital, formerly known as Fremont Partners, invests from $50 million to $250 million in companies with enterprise values from $100 million to $750 million. Sectors of interest include business services and specialty industrials. Calera was founded in 1991 and has offices in San Francisco and Boston (www.caleracapital.com).
“Calera has built a relationship with Murray Bolton and TSG management over multiple years and is excited to be formalizing our partnership,” said Paul Walsh, a senior managing director of Calera Capital. Mr. Walsh has substantial experience in transaction processing, having previously served as CEO of several companies in the industry, including eFunds, Wright Express and Diners Club Germany. For the past seven years, Mr. Walsh has been an Operating Partner for Calera Capital, serving in various operating and managerial roles at the firm’s portfolio companies.
TSG represents Calera’s first investment from the firm’s fifth fund. In addition to Mr. Farrell and Mr. Walsh, Principal Brian Fearnow also worked on this transaction for Calera.
© 2015 PEPD • Private Equity’s Leading News Magazine • 11-10-15
