Oct 2019

Audax Private Debt Provides Financing to Support Parthenon Capital Partners' Investment in Payroc

Audax Private Debt announced that, as Sole Lead Arranger, it provided a second lien facility to support the merger of Payroc LLC with Payscape, NXGEN International, and BluePay Canada, a transaction sponsored by Parthenon Capital Partners. The transaction creates a full-service payment processor and global merchant acquirer.

Based in Chicago, IL, the consolidated company is a leading merchant acquirer and provider of payment processing solutions to more than 55,000 merchants across 46 countries. The Payroc merger establishes a scale player in the payment processing industry with enhanced technology and processing capabilities that includes both front and back-end functionality to service the Company’s $23 billion in annual bank card volume.

Payroc is a provider of payments processing, payments technology and software to small-and-medium sized merchants in the U.S. and internationally. The Company provides payment processing solutions to more than 55,000 merchants across 46 countries and is responsible for processing over $23 billion in annual bank card volume. The Company acts as a full-service payment processor, or an Independent Sales Organization (“ISO”), for merchants’ credit and debit card transactions. As an ISO, the Company also provides merchant acquiring services for larger payment processors. Payroc is headquartered in Chicago, Illinois. To learn more, please visit payroc.com.