Evo Payments International, which is pursuing a dual-track process, has filed its S-1 with regulators, according to a source.
When the filing will be available to the public is unclear. Evo, a portfolio company of Madison Dearborn Partners, is seeking both a sale and an IPO, Buyouts has reported. Deutsche Bank and JP Morgan Chase are advising.
A sale of Evo could fetch $2 billion. The bankers are expected to use the S-1 as a selling memorandum, Buyouts said. The bankers will take the S-1 to potential bidders and gauge their interest in Evo before deciding whether to take it public, sources have said.
EVO, Atlanta, is a payments processor and acquirer for merchants, independent sales organizations, financial institutions, government organizations, and multinational corporations. Earlier this year, EVO acquired Sterling Payment Technologies.
Madison Dearborn acquired a minority stake in Evo in 2013. The Chicago buyout shop committed to invest $250 million in EVO, the Wall Street Journal reported at the time.
The EVO auction comes as other payment companies are going on the block. TA Associates is seeking a buyer for BluePay Processing, Buyouts reported in May. Credit Suisse is advising. Francisco Partners has also put PayLease, an online-payment provider for property management and homeowners associations, up for sale. Francisco hired Raymond James to find a buyer for PayLease, Buyouts said.
Madison Dearborn, Evo and the SEC declined comment. Deutsche Bank and JP Morgan could not be reached for comment.
Action Item: Contact Kevin Hodges, Evo’s CFO, at kevin.hodges@evopayments.com
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