Arsenal eyes exit of payment processor FrontStream after four years


FrontStreamArsenal Capital Partners-backed payment processing business FrontStream has reportedly hired FT Partners to run a sale of the company.

FrontStream is planning an auction process according to peHub, which cited three sources, with one banker adding the company was looking for more than 14-times EBITDA from the sale.

Arsenal bought into FrontStream, which specialises in handling payment transactions for non-profit organisations, in March 2010 during a bolt-on deal for Fast Transact.

Other backers include SSM Partners, Noro-Moseley Partners and Southpoint Capital Advisors.

Arsenal closed its third buyout fund at $875m in April, more than $100m above its original target.

Founding partner Terry Mullen told AltAssets at the time that scoring returns of up to 12 times from its three latest exits had been “very helpful”.

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