Advent International to acquire majority stake in Transaction Services Group

Global private equity investor Advent International has announced it has signed a definitive agreement to acquire a majority stake in Transaction Services Group, a major provider of business management software and integrated payments solutions.

TSG, with headquarters in Auckland, is noted for its domain expertise in serving the “subscription economy".

The agreement is in partnership with the company’s management team and its founder, Murray Bolton.

Over the last three years, TSG has more than doubled its revenue, through both strong organic growth and several strategic acquisitions.

Related reading: TSG is transforming from a NZ-based payment processing company to a global revenue management solutions company, says its CIO David Kennedy

Founded in 1994 in Auckland, the company now also operates across Australia and the UK, with emerging customer bases in Japan, Europe, and the US.

“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,” says Jeffrey Paduch, partner at Advent International.

“This is an exciting time for TSG, which has seen phenomenal growth in recent years,” says Steven Holmes, group CEO at TSG.

“Our partnership with Advent will allow us to build on this momentum as we invest further in our platform to deliver ever-greater value to our clients. 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.”

Advent has significant investment experience in the payments and software industries.

In the past 10 years, it has invested $3.8 billion in nine platform companies in payments and $3.8 billion in six companies in software worldwide.

In addition to TSG, its investments in the payments sector include Prisma, Clearent/Fieldedge, Concardis, Nexi, Nets, Worldpay, Vantiv and Monext while investments in the software sector include CCC Information Services, FinancialForce.com, P2 Energy Solutions, Skillsoft, Unit4 and KMD.

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