SAN FRANCISCO & BOSTON--(BUSINESS WIRE)--Calera Capital, a leading middle market private equity firm, announced today that it has acquired a stake in Transaction Services Group Limited (TSG), a global payment solutions provider. Murray Bolton, TSG’s Chairman, and senior management will retain a significant equity stake in the business.
TSG is the leading full service outsourced provider of highly differentiated solutions and technology that enable businesses to efficiently accept recurring payments from customers. TSG’s broad solution set provides clients with payment processing, customer service, credit control, debt collection, data analytics and reporting services. The Company is headquartered in Auckland, New Zealand and has operations across Australasia, Europe and North America. TSG operates under multiple brands, including Debitsuccess, PaySmart, DFC and Harlands Group.
Paul Walsh of Calera Capital said, “Calera has built a relationship with Murray Bolton and TSG management over multiple years and is excited to be formalizing our partnership. TSG provides an unparalleled level of service to its clients, and we look forward to investing behind the platform to support the multi-faceted needs of our clients.” Mr. Walsh brings substantial experience in transaction processing, having previously served as CEO of several successful companies in the industry, including eFunds, Wright Express and Diners Club Germany.
Murray Bolton said, “I am pleased to announce that we have completed the transaction with Calera Capital. The team at Calera shares our vision for the business and with their participation we have enhanced our ability to accelerate growth and boost our offering in international markets. Calera brings broad operational and governance experience in the payment technology sector to the Group.”
Jim Farrell of Calera Capital added, “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. We are delighted to be partnering with Murray Bolton and working with the TSG management team. Calera is committed to supporting them with the capital and resources needed to realize the substantial potential of this high-quality enterprise.”
TSG represents Calera’s first investment from Fund V and reinforces Calera’s strength and track record of successfully partnering with strong existing owners and management teams. Calera Capital Managing Partner James Farrell, Senior Managing Director Paul Walsh and Principal Brian Fearnow led Calera’s investment in TSG and will join the Company’s board. Terms of the transaction were not disclosed.
About Transaction Services Group
Transaction Services Group is a global direct debit billing service business with offices in the United States, the United Kingdom, Australia and New Zealand. Initiating over 50 million transactions worth more than $2 billion annually, TSG specializes in the delivery of recurring payment solutions for a wide range of industries. For more information, please visit http://www.transactionservices.co.nz/
About Calera Capital
Founded in 1991, Calera Capital is a private investment firm which has invested over $2.8 billion. With offices in San Francisco and Boston, Calera focuses on partnering with founders and management teams to drive significant value creation in their businesses, primarily in two industry sectors: Business Services and Specialty Industrials. Calera Capital makes substantial equity investments in middle-market businesses, typically with enterprise values in the range of $100 million to $750 million, and works closely in support of management to build long-term sustainable value through the implementation of strategic and operating initiatives. For more information, please visit www.caleracapital.com