GTCR has acquired the controlling interest in Bserv, the parent company of payments firm BankServ. The all-cash transaction is expected to close before the end of August and allows GTCR to recapitalise 100% with management in support of an ambitious growth plan. The value of the deal was not disclosed. BankServ will remain structurally unchanged by the acquisition, which will retain the existing management team while strengthening the company’s financial, backing especially for acquisition.
BankServ chief executive office (CEO) David Kvederis said: “This transaction will leave BankServ well-positioned to pursue aggressive growth opportunities, both through acquisitions and expansions to our product line.”
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.