Churchill supports Further Global’s buyout of Payment Alliance

Churchill Asset Management has provided a $70 million credit facility to back Further Global Capital Management‘s acquisition of Louisville, Kentucky-based Payment Alliance International Inc, an ATM provider. No financial terms were disclosed.


New York, NY, March 4, 2019 – Churchill Asset Management (“Churchill”) today announced that it served as Sole Lead Arranger for a $70 million senior secured credit facility to support the acquisition of Payment Alliance International, Inc. (“Payment Alliance”) by Further Global Capital Management (“Further Global”).

Founded in 2005 and headquartered in Louisville, KY, Payment Alliance is the nation’s largest, privately-held ATM provider, offering turnkey ATM placements, managed services, and a full line of processing and support services, including its own armored and maintenance teams.

“Payment Alliance has become a leader in the non-bank ATM market. The company’s impressive history of innovation and growth, combined with its significant opportunities for accretive organic and strategic initiatives, made the company an attractive investment for us,” said Randy Schwimmer, Senior Managing Director and Head of Origination & Capital Markets at Churchill. “We are pleased to partner with Further Global, a private equity firm that exclusively focuses on financial services companies, and Payment Alliance’s experienced management team to support the company throughout the life of the loan.”

“Churchill is the first lender we have chosen to partner with and our experience working with the team exceeded our expectations,” said Olivier Sarkozy, Managing Partner at Further Global. “Churchill was able to provide a flexible and scalable financing solution that allowed us to complete this acquisition in a timely and efficient manner.”

About Churchill Asset Management
Based in New York, Churchill Asset Management LLC is a leading provider of senior and unitranche debt financing for middle market companies, particularly those backed by top-tier private equity sponsors. Churchill has over $6 billion of committed capital under management and has broad experience in all aspects of the middle market financing business, including structuring, credit analysis, syndication, and deal monitoring and oversight. More information can be found at

About Further Global
Further Global Capital Management is an employee owned private equity firm that makes investments in businesses within the financial services industry. Further Global seeks to be a true partner with the management teams with whom it invests with an objective to be the “Capital Partner of Choice” to the industry. Further Global seeks out situations in which its extensive network, operational expertise and capital can drive significant value. Further Global has offices in New York and Toronto with broad support from its network of senior advisors and operating partners. For more information, please visit