Investment Summary

Aldrich Capital Partners Exits Paymerang

On May 8, 2024, Corpay invested in information technology company Paymerang from Aldrich Capital Partners

Investment Highlights
  • This is Corpay’s 11th transaction in the Information Technology sector.
  • This is Corpay’s 12th transaction in the United States.
  • This is Corpay’s 1st transaction in Virginia.

Investment Summary

Date 2024-05-08
Target Paymerang
Sector Information Technology
Investor(s) Corpay
Sellers(s) Aldrich Capital Partners
Deal Type Add-on Acquisition

Target

Paymerang

Richmond, Virginia, United States
Paymerang offers advanced solutions that integrate AI, data capture technologies, and electronic document workflows to address complex AP challenges. Paymerang was formed in 2010 and is based in Richmond, Virginia.

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Investor(S) 1

Investor

Corpay

Atlanta, Georgia, United States

Category Company
Founded 1986
Sector Business Services
Employees11,200
Revenue 4.0B USD (2024)
DESCRIPTION
Entrance to FleetCor's corporate headquarters in Norcross, Georgia.
Entrance to FleetCor's corporate headquarters in Norcross, Georgia.

Corpay is a global provider of fuel cards, commercial payment and data solutions, stored value solutions, and workforce payment products and services to businesses, retailers, commercial fleets, major oil companies, petroleum marketers and government entities in countries throughout North America, Latin America, Europe, Australia and New Zealand. Corpay was formed in 1986 and is based in Atlanta, Georgia.


DEAL STATS #
Overall 35 of 39
Sector: Information Technology M&A 11 of 11
Type: Add-on Acquisition M&A Deals 23 of 26
State: Virginia M&A 1 of 1
Country: United States M&A 12 of 14
Year: 2024 M&A 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-03-06 Zapay

Brasília, Brazil

Zapay provides a digital mobility solution for paying vehicle taxes, registration, and tickets, and is integrated into the National Traffic Departments in all 27 states. Zapay is based in Brasília, Brazil.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-06-19 GPS

South Jordan, Utah, United States

GPS provides business-to-business cross-border and treasury management solutions to upper-middle market companies, primarily in the US. GPS is based in South Jordan, Utah.

Buy -

Seller(S) 1

SELLER
DESCRIPTION

Aldrich Capital Partners is a growth capital firm focused on acquiring minority or control positions in growth companies with at least $10 million in revenue. The Firm primarily targets tech-enabled service companies including software, healthcare IT, and financial technology. Prospective companies generally exhibit committed management, proprietary software/solutions, and entrepreneurs looking for a financial partner to pursue growth opportunities. Aldrich Capital Partners was formed in 2014 and is headquartered in Vienna, Virginia.


DEAL STATS #
Overall 1 of 1
Sector: Information Technology M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 1
State: Virginia M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2024 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-26 PRIA Healthcare Management

Torrington, Connecticut, United States

PRIA Healthcare Management is a patient access and reimbursement solutions company specializing in patient-based appeals of denied care. PRIA partners with medical device companies, healthcare providers, and healthcare organizations to ensure that patients are afforded appropriate coverage for the care that they are prescribed. PRIA Healthcare Management is based in Torrington, Connecticut.

Buy -