Global private equity and venture capital news and research

Silver Lake seals $1.65bn Mercury Payment Systems sale

13 May 2014

credit card paymentUS private equity firm Silver Lake Partners has agreed the $1.65bn sale of Mercury Payment Systems to payment processor Vantiv.

Silver Lake had been eyeing an IPO of the business according to previous reports, but now expects to close the deal some time in the second quarter.

The firm currently holds a 63 per cent stake in Mercury following an investment in 2010, while the rest is owned by its founders.

Mercury, which had EBITDA of $93m last year, is one of the USA’s largest non-bank payment processors, and target small and medium0-sized retail and restaurant businesses.

Last year Silver Lake raised over $10bn for it latest large-cap technology investment fund, Silver Lake Partners IV.

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