DCF LLC Advises Optimal Payments Plc on Two Acquisitions: Meritus Payment Solutions and Global Merchant Advisors
NEW YORK, July 30, 2014 – Deloitte Corporate Finance LLC (“DCF”) acted as advisor to Optimal Payments Plc (LSE AIM: OPAY or “Optimal Payments”), a leading global online payments and risk management provider, on two recent acquisitions: Santa Ana, California-based payment processing entity TK Global Partners L.P. doing business as Meritus Payment Solutions (“Meritus”) for consideration of $210 million; and Los Angeles-based online payments company Global Merchant Advisors, Inc. (“GMA”) for consideration of up to $15 million. The deals closed on July 23, 2014.
DCF advised Optimal Payments as part of its broader advisory role in connection with Optimal Payments’ pursuit of acquisition targets globally. The closing of these two transactions marks nearly $1 billion in payments-related transactions DCF has advised on in the past three months, further solidifying Deloitte’s position as the global leader in Cards & Payments Consulting according to Kennedy Consulting Research & Advisory’s “Consulting to the Banking Sector: Cards & Payments 2013” report.
“After careful evaluation of a number of potential candidates, Meritus stood out as the perfect choice on all fronts,” said Joel Leonoff, president and chief executive officer, Optimal Payments. “Meritus’ strong stakeholder relationships, multi-channel sales force, established presence with small- and mid-sized businesses in the U.S. and entrepreneurial spirit make them an ideal acquisition for Optimal Payments. We also believe that GMA is the perfect complement to that.”
According to Sara Elinson, DCF managing director, “We are delighted to assist Optimal Payments with its acquisition strategy. These transactions are a testament to our ongoing commitment to advise and support Optimal Payments in executing its growth strategy and our ability to provide seamless global service to the payment sector overall.”
About Optimal Payments Plc
Optimal Payments is a global provider of online payment solutions, trusted by businesses and consumers in over 200 countries and territories to move and manage billions of dollars each year. Merchants use the NETBANX® platform and services to simplify how they accept credit and debit card, direct-from-bank, and alternative and local payments; and the NETELLER® service to increase revenue and capture new customers. Consumers use the multilingual and multicurrency NETELLER and Net+® Card stored-value offering to make secure and convenient payments. Optimal Payments Plc is quoted on the London Stock Exchange’s AIM, with a ticker symbol of OPAY. Subsidiary company Optimal Payments Ltd is authorised and regulated as an e-money issuer by the UK’s Financial Conduct Authority (FRN: 900015).
About BB&T Capital Partners, Inc.
BB&T Capital Partners focuses on the middle market, managing committed capital to support companies and financial sponsors. BBTCP makes direct equity investments as the lead investor, or co-investor with other private equity groups, in control transactions of privately-held companies and provides subordinated debt with equity co-investments in support of transactions led by financial sponsors and others. Since 1998, BBTCP has invested directly in over 55 privately-held, middle market companies in a variety of industries, providing patient capital to facilitate buyout, acquisition, growth, and recapitalization transactions. BBTCP’s investing strategy focuses on a partnership approach with a common goal of long-term value creation through the alignment of interests.
About Meritus Payment Solutions
Established in 2008, Meritus is a high growth and profitable organization with a similar entrepreneurial corporate culture and set of values to Optimal Payments. It has approximately 100 employees and processes more than $3 billion in transaction volume annually. Meritus has a proprietary technology platform and operates a streamlined and efficient merchant onboarding process. Revenues grew from $38.3 million in 2012 to $74.4 million in 2013 and strong growth is expected to continue.
About Global Merchant Advisors
Based in Los Angeles, California, GMA is a fast growing payments company serving small to medium sized businesses. The company focuses primarily on segments of the market that have been underserved by larger payment processing competitors, offering small merchants "industrial grade" processing solutions. Since its launch in 2010, GMA has built its merchant base and processing volume through its direct sales efforts and network of bank, third party processors and technology partners.
About Deloitte Corporate Finance LLC
Deloitte Corporate Finance LLC, an SEC registered broker-dealer and member of FINRA, is an indirect wholly-owned subsidiary of Deloitte Financial Advisory Services LLP and affiliate of Deloitte Transactions and Business Analytics LLP. Deloitte Corporate Finance LLC provides deal execution and lead financial advisory services to large corporate, middle market, and private equity firms. Deloitte Corporate Finance has access to the resources of the Corporate Finance Advisory practices of the member firms (and their affiliates) within the Deloitte Touche Tohmatsu Limited network of member firms. Together with Deloitte Corporate Finance LLC, these practices include in excess of 1,600 professionals, working collaboratively in 150 international locations. Investment banking products and services within the United States are offered exclusively through Deloitte Corporate Finance LLC. For more information, visit www.investmentbanking.deloitte.com. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. Certain services may not be available to attest clients under the rules and regulations of public accounting.
Prior engagement performance is no guarantee of future performance and may not be representative of the experience of other clients. This communication is for informational purposes only and is not intended as an offer or solicitation for the purchase or sale of a security.