M&A Deal Summary

Corsair Capital Acquires Multi Service Technology Solutions

On July 30, 2020, private equity firm Corsair Capital acquired information technology company Multi Service Technology Solutions from World Fuel Services for 350M USD

Acquisition Highlights
  • This is Corsair Capital’s 1st transaction in the Information Technology sector.
  • This is Corsair Capital’s 3rd largest (disclosed) transaction.
  • This is Corsair Capital’s 9th transaction in the United States.
  • This is Corsair Capital’s 1st transaction in Kansas.

M&A Deal Summary

Date 2020-07-30
Target Multi Service Technology Solutions
Sector Information Technology
Buyer(s) Corsair Capital
Sellers(s) World Fuel Services
Deal Type Divestiture
Deal Value 350M USD

Target

Multi Service Technology Solutions

Overland Park, Kansas, United States
website
Multi Service specializes in the design, implementation, and management of commercial billing and payment solutions, specifically closed-loop, net pay programs. The company work with clients to identify specific credit requirements and transaction processing concerns in order to develop operational efficiencies that can foster business growth. MSTS was formed in 1978 and is based in Overland Park, Kansas.

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Buyer(S) 1

Buyer

Corsair Capital

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1992
Size Large
Type Sector Focused
DESCRIPTION

Corsair Capital is a private investment firm focused on investments in the financial services industry. Specific areas of interest include banks, insurance companies, credit card specialists, asset managers, private banks, mortgage lenders, financial technology firms, and finance companies. The Firm looks to invest between $50 to $100 million in companies with proven business models and 'meaningful' barriers to entry. Corsair will consider opportunities around the world, including the US, Europe, Latin America, and Asia. Prospective transactions include recapitalizations, growth capital financings, management buyouts, and special/distressed situations. Corsair Capital was originally established in 1992 and is based in New York City. Corsair has an additional office in London.


DEAL STATS #
Overall 23 of 26
Sector (Information Technology) 1 of 2
Type (Divestiture) 1 of 1
State (Kansas) 1 of 1
Country (United States) 9 of 12
Year (2020) 1 of 2
Size (of disclosed) 3 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-06-29 Personal Capital

Redwood City, California, United States

Personal Capital Corp. is a provider of financial advisory services. Personal Capital is based in Redwood City, California.

Sell $1.0B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-16 IDIQ

Temecula, California, United States

IDIQ provides credit reporting, identity theft, and dark web monitoring, identity restoration, and related family protection services in the rapidly evolving $20 billion consumer identity monitoring market. IDIQ was founded in 2009 and is based in Temecula, California.

Buy -

Seller(S) 1

SELLER

World Fuel Services

Miami, Florida, United States

website


Category Company
Founded 1984
Sector Energy Services and Equipment
Employees4,300
Revenue 59.0B USD (2022)
DESCRIPTION
Entrance to World Fuel Services' headquarters in Miami, Florida.
Entrance to World Fuel Services' headquarters in Miami, Florida.

World Fuel Services is a provider of downstream marketing and financing of aviation, marine, and ground transportation fuel products and related services. World Fuel Services was founded in 1984 and is based in Miami, Florida.


DEAL STATS #
Overall 1 of 1
Sector (Information Technology) 1 of 1
Type (Divestiture) 1 of 1
State (Kansas) 1 of 1
Country (United States) 1 of 1
Year (2020) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-08-22 Universal Weather and Aviation - UVair® Fuel Business

Houston, Texas, United States

Universal Weather and Aviation, Inc. - UVair® Fuel Business provides fuel supply to its customers.

Buy $170M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-28 Flyers Energy

Auburn, California, United States

Flyers Energy franchises the Flyers fuel brand and distributes wholesale and branded retail fuel, commercial lubricants, renewable fuels and solar power in the United States. Flyers Energy is the largest member of the Commercial Fueling Network, and is also the marketer for more than 100 Chevron, Shell, Valero, and 76 branded stations. Flyers Energy offers commercial fueling at 230,000 retail gas stations nationwide with the Flyers Fleet Card. Flyers Energy is based in Auburn, California.

Buy $775M