William Blair acted as financial advisor to Fidelity Payment Services in connection with its recapitalization by PSG. The recapitalization, which closed in May 2022, also included participation from existing investor H.I.G. Growth Partners and the management team.
About the Companies
Fidelity Payments Services is one of the largest electronic payment providers in North America. Gradually expanding its products and services to stay ahead of ever-changing technology and trends, Fidelity Payment Services offers powerful payment processing tools to support business owners across all channels – in store, online and mobile. Its proprietary and purpose-built platform, Cardknox, is a best-in-class payment technology solution with true omni-channel payment capabilities that streamline and simplify payment processing and lower costs. Founded in 1996, Fidelity Payment Services has transformed its offerings from simple credit card processing hardware and software, while maintaining fast, reliable and friendly service. The company is headquartered in Brooklyn, NY.
H.I.G. Growth Partners is the dedicated growth capital investment affiliate of H.I.G. Capital, a leading global alternative investment firm with over $50 billion of equity capital under management.* H.I.G. Growth seeks to make both majority and minority investments in strong, growth-oriented businesses located throughout North America, Europe and Latin America. H.I.G. Growth Partners considers investments across all industries but focuses on certain high-growth sectors where it has extensive in-house expertise such as technology, healthcare, internet and media, consumer products and technology-enabled financial and business services. H.I.G. Growth strives to work closely with its management teams to serve as an experienced resource, providing broad-based strategic, operational, recruiting, and financial management services from a vast in-house team and a substantial network of third-party relationships. *Based on total capital commitments managed by H.I.G. Capital and affiliates.
PSG is a growth equity firm that partners with software and technology-enabled services companies to help them navigate transformational growth, capitalize on strategic opportunities and build strong teams. Having backed more than 110 companies and facilitated over 400 add-on acquisitions, PSG brings extensive investment experience, deep expertise in software and technology, and a firm commitment to collaborating with management teams. Founded in 2014, PSG operates out of offices in Boston, Kansas City, London, Paris, Madrid and Tel-Aviv.