PE HUB Wire Highlights, 7.3.19

Photo of Luisa Beltran, PE HUB Senior Editor, courtesy of Buyouts Insider.

Revelstoke runs secondary to buy Upstream Rehab from older fund; Vector sells Corel to KKR; AltaReturn, considered a smaller eFront, goes up for sale

Happy pre-July 4th, everyone! As we celebrate our independence, please make sure to wear the appropriate sunblock. If you are taking part in fireworks, remember the “light and release” motto. (Don’t answer a text after you light a firecracker. That can be bad.)

Just a reminder that we’ll be off enjoying the long weekend tomorrow and Friday. The Wire will return on Monday.

There’s been lots of activity in the payments sector in the past five years. I was NOT shocked to find that U.S. strategics have dominated the payments deal landscape. Three U.S. companies — VisaMastercard and PayPal — accounted for 18 deals worth $29.2 billion from 2014 to 2018, according to GlobalData. Visa was the far away leader, with $24.1 billion in payments deals during this time. Wirecard bought stakes or assets in nine companies, worth $455.7 million, GlobalData said

Ant Financial, the only company from a developing nation, also made the list. It acquired stakes or assets worth $934.5 million in five payment tech companies during this period, Global Data said.

Of course this data doesn’t include the big payments transaction from earlier this year. This includes FISbuying WorldPay for $43 billion and Fiserv‘s $22 billion acquisition of First Data.

Chris has a story on Revelstoke Capital Partners running a secondary process to move Upstream Rehabilitation out of its 2015 debut fund and into a new vehicle so that it will have more time to manage the company. Read his story here.


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