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Welsh Carson exits 2011 GlobalCollect investment in €820m Ingenico buyout

8 Jul 2014

debit credit card machine paymentUS private equity firm Welsh Carson Anderson & Stowe is exiting its stake in payment solutions provider GlobalCollect as the company is picked up by strategic buyer Ingenico Group for €820m.

The deal marks a fast turnaround for WCAS, which only bought into the business in 2011 by picking up a majority stake from General Atlantic.

GlobalCollect had gross revenues of €305m last year and adjusted EBITDA of €50m.

The company specialises in cross-border e-commerce and acts as a hub for other payment providers in 170 countries.

A final close for the deal is expected by early in the last quarter of 2014.

New York-based  Welsh Carson Anderson & Stowe is reportedly looking to raise $3bn for its next fund.

The firm was expected to hold a first close for WCAS XII this month according to a peHub report last December.

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