Milestone Partners said Thursday that it has acquired PayLink Payment Plans. No financial terms were disclosed. Based in Chicago, PayLink is a provider of payment financing and processing solutions for vehicle service contracts providers.
Radnor, PA, July 24, 2014 – Milestone Partners is pleased to announce that on July 7, 2014 it acquired PayLink Payment Plans, LLC (“PayLink” or the “Company”), a provider of payment financing and processing services to facilitate the sale of vehicle service contracts (“VSCs”).
Based in Chicago, IL, PayLink specializes in providing best-in-class payment plan financing, payment processing services and business solutions for providers of vehicle service contracts, commonly referred to as extended warranty contracts. Since its founding in 2006, PayLink has built a reputation as a technology leader in the industry with national scale and commitment to customer service.
Adam Curtin, Partner at Milestone, stated: “Rebecca Howard and her team have built the premier and most respected provider of payment plans to the VSC industry. We are eager to support management during the next phase of PayLink’s tremendous growth.”
Rebecca Howard, CEO of PayLink who also invested alongside Milestone in the transaction, added: “Milestone has an impressive amount of experience in the specialty finance sector and we are excited to have them as our equity partner.”
FirstMerit Bank, N.A. acted as the administrative agent on the senior credit facility and Hancock Capital Management, LLC provided subordinated second lien notes.
The law firm Pepper Hamilton LLP advised Milestone. William Blair & Co., Inc. advised PayLink, which was owned by an investor group led by Oxford Financial Group, Ltd.
For more information about the transaction, please contact Adam Curtin or James Billmyer at Milestone Partners.
Milestone Partners (www.milestonepartners.com) is a private equity firm that partners with management to invest in leveraged buyouts and recapitalizations of lower middle market businesses. Milestone pursues successful niche-market leaders that provide high-margin products or services. Milestone’s transactions typically provide liquidity to shareholders of privately-owned businesses, facilitate the transition of ownership to key managers, and allow management to capitalize on growth opportunities, while maintaining the legacy of the founders