M&A Deal Summary

Worldpay Acquires National Processing

On September 14, 2010, Worldpay acquired financial services company National Processing from American Capital and GTCR

Acquisition Highlights
  • This is Worldpay’s 2nd transaction in the Financial Services sector.
  • This is Worldpay’s 2nd transaction in the United States.
  • This is Worldpay’s 1st transaction in Kentucky.

M&A Deal Summary
Date 2010-09-14
Target National Processing
Sector Financial Services
Buyer(s) Worldpay
Sellers(s) American Capital
GTCR
Deal Type Add-on Acquisition

Target

National Processing

Louisville, Kentucky, United States
National Processing Company (NPC) is a provider of payment processing services. NPC is the provider of debit card and credit card acceptance in the U.S. dedicated exclusively to the small-to-medium merchant market. NPC provides a wide range of payment processing solutions, from point-of-sale credit card processing to e-commerce solutions.

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Buyer(S) 1

Buyer

Worldpay

Jacksonville, Florida, United States
Category Company
Founded 2009
Sector Financial Services
Revenue 3.9B USD (2018)
DESCRIPTION

Worldpay is a provider of payment acceptance services. The company offers a broad suite of payment processing services that enable its clients to meet their payment processing needs through a single provider, including in omnichannel environments that span point-of-sale, e-commerce, and mobile devices. Worldpay was established in 2009 and is headquartered in Jacksonville, Florida.

DEAL STATS #
Overall 2 of 8
Sector (Financial Services) 2 of 6
Type (Add-on Acquisition) 2 of 6
State (Kentucky) 1 of 1
Country (United States) 2 of 7
Year (2010) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-07-07 TNB Card Services

Dallas, Texas, United States

TNB Card Services provides electronic payments processing for credit unions nationwide. It delivers processing services for credit, debit, and ATM transactions and provides portfolio consulting and marketing programs that increase card usage and grow card programs.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-12-03 Litle

Lowell, Massachusetts, United States

Litle is a developer of e-commerce payment processing solutions that are used by companies selling merchandise online and via direct-response marketing.

Buy $361M

Seller(S) 2

SELLER

American Capital

Category Private Equity Firm
Founded 1997
PE ASSETS 22.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

American Capital was a publicly traded buyout and mezzanine investment firm. American Capital invested in buyouts, growth capital financings, acquistion financings, and recapitalizations. The Firm looked to finance businesses with at least $4 million in EBITDA and valued between $20 and $500 million. American Capital ws a generalist firm with broad interest in traditional industries such as manufacturing, distribution, and services. American Capital's European investment affiliate is European Capital. European Capital looked to invest $10 to $600 million of equity, mezzanine, and/or senior debt in similar opportunities across Europe. American Capital was formed in 1997 and in January 2017, merged with Ares Capital Management.

DEAL STATS #
Overall 119 of 194
Sector (Financial Services) 3 of 4
Type (Add-on Acquisition) 56 of 87
State (Kentucky) 2 of 2
Country (United States) 117 of 186
Year (2010) 12 of 14
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-08-16 Innova Holdings

Houston, Texas, United States

Innova Electronics is a leading Contract Manufacturer specializing in the building of Extreme Environment Electronics and Hazardous Area Computers. In operation since 1989, Innova has products at work for Petrochemical, Military and Rugged Applications around the world. Innova Electronics offers a complete range of Contract Manufacturing Services from PCB Assembly thru System Integration.

Sell $125M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-11-01 J-Pac Medical

Somersworth, New Hampshire, United States

J-Pac Medical is a provider of contract packaging and medical device manufacturing services. J-Pac produces a wide range of advanced medical products such as implantable surgical mesh, orthopedic devices and oral thin films. J-Pac Medical is based in Somersworth, New Hampshire.

Sell -
SELLER

GTCR

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1980
PE ASSETS 15.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

GTCR is a private equity firm that typically partners with management when pursuing acquisitions. The Firm looks to grow companies through build-on acquisitions, consolidations, and internal growth. GTCR will consider both equity and mezzanine capital commitments and concentrates its investment activity in consumer products & services, healthcare services, outsourced business services, technology, transaction processing, and pharma/medical products. GTCR was formed in 1980 and is based in Chicago, Illinois.

DEAL STATS #
Overall 29 of 85
Sector (Financial Services) 1 of 5
Type (Add-on Acquisition) 17 of 41
State (Kentucky) 1 of 2
Country (United States) 29 of 82
Year (2010) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-07-01 Jessamine Healthcare

Rockville, Maryland, United States

Jessamine Healthcare is a healthcare management firm focused on acquiring companies in the healthcare payor and outsourced payor services sectors, including those with unique capabilities affecting the delivery of quality and cost effective care.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-01-01 Townsend Group

Cleveland, Ohio, United States

Townsend Group provides global real estate and real asset investment advisory services. The company offers complementary asset management, advisory, and capital solutions to LPs and GPs via funds, secondaries, co-investments, and direct investments. It advises global public and private pension plans, insurers, sovereign wealth funds, endowments, and foundations. Townsend Group was established in 1983 and is based in Cleveland, Ohio.

Buy -
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