M&A Deal Summary

Global Payments Acquires DolEx Dollar Express

On August 12, 2003, Global Payments acquired financial services company DolEx Dollar Express from Advent International and Madison Parker Capital for 200M USD

Acquisition Highlights
  • This is Global Payments’ 1st transaction in the Financial Services sector.
  • This is Global Payments’ 12th largest (disclosed) transaction.
  • This is Global Payments’ 1st transaction in the United States.
  • This is Global Payments’ 1st transaction in Texas.
Investment Fate
  • DolEx Dollar Express was divested to a consortium of buyers in 2010.

M&A Deal Summary

Date 2003-08-12
Target DolEx Dollar Express
Sector Financial Services
Buyer(s) Global Payments
Sellers(s) Advent International
Madison Parker Capital
Deal Type Add-on Acquisition
Deal Value 200M USD

Target

DolEx Dollar Express

Arlington, Texas, United States
DolEx Dollar Express is a provider of electronic funds transfer services through approximately 600 branches and over 2,000 agents in the mainland U.S., Puerto Rico, U.S. Virgin Islands, and Europe. The company’s services allow customers to quickly and safely send money to beneficiaries in North America, Latin America, North Africa, Asia, Europe, and the Caribbean through its settlement relationships with thousands of banks, exchange houses, and retail locations. DolEx also offers ancillary products and services including phone cards, bill payments, money orders, check cashing, prepaid mobile e-pins, and its Amigo Latino Plus prepaid card. DolEx Dollar Express was founded in 1996 and is based in Arlington, Texas.

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Buyer(S) 1

Buyer

Global Payments

Atlanta, Georgia, United States

Category Company
Founded 1967
Sector Financial Services
Employees27,000
Revenue 9.7B USD (2023)
DESCRIPTION
View of Global Payments' corporate headquarters in Atlanta, Georgia.
View of Global Payments' corporate headquarters in Atlanta, Georgia.

Global Payments is a worldwide provider of payment technology services. The Company's payment solutions enables merchant customers to accept card, electronic, check and digital-based payments at the point of sale. Global Payments' primary business model provides payment services directly to merchants as customers. Global Payments was founded in 1967 and is based in Atlanta, Georgia.


DEAL STATS #
Overall 1 of 20
Sector (Financial Services) 1 of 3
Type (Add-on Acquisition) 1 of 19
State (Texas) 1 of 2
Country (United States) 1 of 13
Year (2003) 1 of 2
Size (of disclosed) 12 of 15
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2003-11-12 Latin America Money Services

Arlington, Texas, United States

Latin America Money Services LLC is a provider of consumer-to-consumer electronic money transfer services to the large and rapidly growing Latino community living in the U.S. and their Latin American families abroad.

Buy -

Seller(S) 2

SELLER

Advent International

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1984
PE ASSETS 76.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Advent is a global private equity firm that targets investments in North America, Europe, Asia, and Latin America. Advent's emerging market efforts are concentrated in Central Europe and Latin America. Advent seeks transactions valued between $50 million and $5 billion and can commit up to $2 billion of equity capital per investment. Broad areas of interest include business & financial services, retail & consumer, technology, media, & telecoms, healthcare & life sciences, and industrial. Prospective transaction types include buyouts, growth capital financings, take privates, and recapitalizations. Advent was formed in 1984 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 44 of 222
Sector (Financial Services) 5 of 25
Type (Add-on Acquisition) 20 of 82
State (Texas) 2 of 6
Country (United States) 27 of 79
Year (2003) 3 of 8
Size (of disclosed) 39 of 52
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-07-04 Financial Dynamics

London, United Kingdom

Financial Dynamics Ltd., services include financial PR, investor relations, crisis and issues management and corporate, business-to-business and business-to-consumer communications. FD is also a market leader in M&A advisory work. FD is unique within its industry in that it is structured around specialist sector teams operating on an international basis, covering consumer industries, financial services, basic industries, business services, life sciences and healthcare, media, technology and telecommunications.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2003-08-18 Terapia SA

Cluj-Napoca, Romania

Terapia, then second-largest pharmaceuticals manufacturer in Romania, was a household name with an 80-year heritage.

Buy -
SELLER

Madison Parker Capital

Boston, Massachusetts, United States

Investor


Category Private Equity Firm
Size Small
Type Sector Agnostic
DESCRIPTION

Madison Parker Capital is a private investment provides growth and liquidity capital to mid-sized businesses. Madison also considers buyouts of stand alone businesses as well as divestitures of larger corporations. Prospective companies are typically profitable with up to $150 million in revenues. Sectors of interest include advanced materials, business services, consumer products, retail/restaurants, and manufacturing. Madison Parker Capital is based in Boston, Massachusetts.


DEAL STATS #
Overall 1 of 7
Sector (Financial Services) 1 of 1
Type (Add-on Acquisition) 1 of 3
State (Texas) 1 of 1
Country (United States) 1 of 7
Year (2003) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2000-10-01 DolEx Dollar Express

Arlington, Texas, United States

DolEx Dollar Express is a provider of electronic funds transfer services through approximately 600 branches and over 2,000 agents in the mainland U.S., Puerto Rico, U.S. Virgin Islands, and Europe. The company’s services allow customers to quickly and safely send money to beneficiaries in North America, Latin America, North Africa, Asia, Europe, and the Caribbean through its settlement relationships with thousands of banks, exchange houses, and retail locations. DolEx also offers ancillary products and services including phone cards, bill payments, money orders, check cashing, prepaid mobile e-pins, and its Amigo Latino Plus prepaid card. DolEx Dollar Express was founded in 1996 and is based in Arlington, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-09-10 Utrecht Manufacturing

Cranbury, New Jersey, United States

Utrecht is a niche retailer of fine arts supplies (i.e. art supplies for the serious artist as opposed to crafts) with 35 stores nationwide.

Buy -