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Welsh, Carson, Anderson & Stowe pulls back from TransFirst sale

16 Nov 2012

Private equity firm Welsh, Carson, Anderson & Stowe has withdrawn portfolio company TransFirst from sale, in favour of a dividend recapitalisation for the US payments processing company, according to Reuters.

Prospective buyers were said to have include private equity firms Blackstone, Carlyle and Hellman & Friedman, as well as trade buyers Vantiv, TSYS and Moneris Solutions. The report said that some of the acquirers were looking to merge the company with Advent and Bain-backed WorldPay.

In September, AltAssets reported that the US buyout house had put the company up for sale, in a deal that could have reached as much as $1.5bn.

TransFirst has since reportedly approached Bank of America Merrill Lynch in order to refinance its debt, as well as supporting a potential dividend.

The company could yet offload its US operations in 2013, in a deal that could hit valuations of around $1bn.

Welsh, Carson, Anderson & Stowe bought the company from private equity peer GTCR Golder Rauner for $683m back in May 2007.

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