NASHVILLE, Tenn.--(BUSINESS WIRE)--Charge Payment, LLC, a rapidly growing technology and payment processing company, today announced the completion of three acquisitions: Advanced Payment Solutions, headquartered in Nashville, Data Business Systems, headquartered in Denver, and Payment Systems, headquartered in Los Angeles. With these latest acquisitions, Charge Payment’s annualized run rate for payment volume has grown to approximately $4 billion per year, since the Company’s initial acquisition in January 2013.
Greg Daily, founder and CEO of Charge Payment, commented, “We are pleased to announce the acquisition of these three outstanding growth companies. These companies enhance our presence in the education vertical and establish a foothold in utilities. In addition, they enhance our technological capabilities, scale our payment volume, and bring experienced entrepreneurial staff and management to Charge Payment. The acquisitions also further validate the significant continuing market opportunity we see to partner with attractive companies that, consistent with our core operating tenants, have grown successfully by providing outstanding customer service and innovative technology and integrated payment solutions.
“In pursuit of our goal of building Charge Payment into an industry leading provider of merchant payment solutions, we have now announced five acquisitions since the start of 2013, and we continue to evaluate additional potential transactions. Supporting both the acquisitions announced today and future transactions, we recently closed on a senior credit facility led by Tennessee-based FirstBank. We also completed a Friends and Family offering which raised capital of approximately $17 million. Our investors in this transaction are primarily located in Nashville and most are familiar with our business model and capabilities from seeing their successful execution in PMT Services, Inc. and iPayment, Inc. As today’s announcement indicates, we are building a great team at Charge Payment to take advantage of a similar long-term growth opportunity for the Company.”
Advanced Payment Solutions, founded in Nashville by Partners Debbie Bowles and Jennifer Brinkman, has grown through its commitment to serving larger merchants and its emerging focus on the utility payments sector. This sector is under-penetrated from an electronic payments standpoint with relatively few companies deploying advanced payment solutions to make their customers’ experience better. APS brings more than 2,000 client relationships to Charge Payment, primarily in southern Kentucky and middle Tennessee.
Data Business Systems, founded in Denver by CEO Hume Miller, specializes in the education software and payments sector. By leveraging technology to provide school districts with integrated, district-wide solutions, DBS today serves more than 5,500 schools with approximately 3 million students.
Payment Systems, founded in Los Angeles by CEO Matt Wiltsey, is Charge Payment’s largest acquisition to date and has grown rapidly by providing electronic processing services through traditional direct sales to brick and mortar merchants. Payment Systems brings more than 6,000 merchants across the U.S., with over $1.5 billion in annual payment volume, to Charge Payment.
About Charge Payment, LLC
Based in Nashville, Tennessee, Charge Payment, LLC is a technology centric payment company focused on providing solutions to its clients throughout the U.S. These solutions will help our clients improve their operating efficiencies, enhance revenues, and streamline their payment processing functions. Charge Payment intends to make additional acquisitions with a goal of building the Company into an industry leading technology and payment solutions company in key and unique industry verticals.
