Increases Senior Financing from Goldman Sachs Specialty Lending Group
and Business Development Corporation of America
AMS/BSR hits major growth milestone amidst competitive industry
landscape
CALABASAS, Calif.--(BUSINESS WIRE)--Applied Merchant Systems (AMS: www.appliedmerchant.com)
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continues to develop its integrated electronic payment processing
platform while consolidating with other growing merchant acquirers, or
independent sales organizations (“ISOs”). In that pursuit, AMS expanded
its senior credit facility with Goldman Sachs Specialty Lending Group
(“Goldman Sachs”) and Business Development Corporation of America
(“BDCA”) through a Strategic Merger with BlueSquare Resolutions
(BlueSquare: www.getbluesquare.com).
BlueSquare’s founder, Sabin Burrell, has become a significant
shareholder and Senior Executive of AMS, while also continuing to serve
as CEO of BlueSquare.
AMS has achieved a run rate of over $4 billion in annual processing
volume. AMS is on track to complete a minority equity financing and two
other acquisitions in the next 60 days, and has many other future
acquisitions that it intends to complete in the United States and Canada
in the coming months.
“With Goldman Sachs, BDCA and our expected new minority equity partner
by our side, AMS has extensive liquidity options,” said Jonathan Severn,
AMS’ CEO. “It’s our intent to acquire and partner with companies with
industry leading managers. Sabin Burrell and BlueSquare are tremendous
additions to the family. BlueSquare and AMS complement each other’s
businesses, and that is what really drove this merger that has been in
the works for well over a year.”
“I watched AMS’ managers help build two separate $1 billion platforms,
partner with world-class capital providers, and establish relationships
with multiple highly capable sponsor banks and processors, including
First Data,” said Sabin Burrell, BlueSquare’s CEO. “Consolidation is
happening very rapidly in the payments space. If you are not significant
in size, have a product or technology offering or insufficiently
capitalized, you will eventually become irrelevant. Our transition to a
Full Service Provider (FSP) with one of the largest banks in the world
provides us with additional flexibility.”
AMS’ Nasir Shakouri added, “In addition to great new managers, AMS is
focusing on new acquisition opportunities with channel-specific
initiatives and penetration. We’re looking for companies with good,
sustainable long-term growth prospects. The minority equity financing
will provide AMS the flexibility to acquire strong and growing
businesses at attractive prices.” With regard to sponsor banks, Mr.
Shakouri continued, “As BBVA has one of the stronger balance sheets of
any bank in payment processing and unique capabilities to execute
transactions on an expedited basis, AMS recently added BBVA to augment
its other two sponsor banks.”
According to Tom Murphy, Managing Director of M&A Capital, “AMS selected
its capital providers through identifying the most experienced banking
professionals in payment processing.”
About AMS
Located in Calabasas, CA, AMS is an integrated provider of merchant
payment processing services as well as a provider of various digital
marketing solutions primarily to small- and medium-sized merchants
located in the United States. The Company delivers its credit and debit
card-based payment processing solutions to its merchants who operate
either in a physical business environment, over the Internet, or with
mobile/wireless devices.
About BlueSquare
Located in Scottsdale, AZ, BSR is one of the largest First Data ISO’s in
the Country. BSR is a multiple year Chairman’s Council Award Winner and
sits on the Executive Committee for First Data Corporation. BSR has
grown exponentially through strategic partnerships, many of which by way
of acquisition.
About M&A Capital
M&A Capital, LLC is a boutique investment banking firm advising
businesses and their shareholders on the formulation and implementation
of financial strategies that seeks to maximize shareholder value,
including: mergers and acquisitions, private placements of senior and
junior debt and equity capital. M&A Capital’s professionals have
completed $30 billion in transactions.
Applied Merchant Systems and its respective logos are
trademarks, registered trademarks, or service marks of Applied Merchant
Systems. Other products and company names mentioned are the trademarks
of their respective owners.
Contacts
Applied Merchant Systems
Laura Lawson, 800-400-0206, Ext. 7012