GTCR to acquire majority stake in payment processing firm Worldpay

• According to terms of the deal, GTCR will acquire a 55 percent stake in Worldpay, and FIS will retain the remaining 45 percent stake
• Charles Drucker, the former executive chairman and CEO of Worldpay, will become CEO of the standalone Worldpay business upon close
• Based in Jacksonville, Florida, FIS is a provider of technology solutions for financial institutions and businesses

GTCR has agreed to acquire a majority stake in Ohio-based Worldpay, a provider of payment processing solutions, from FIS.

According to terms of the deal, GTCR will acquire a 55 percent stake in Worldpay, and FIS will retain the remaining 45 percent stake. The deal puts Worldpay at a valuation of $18.5 billion.

As part of the agreement, GTCR has committed an additional equity capital investment in Worldpay of up to $1.25 billion to pursue inorganic growth opportunities.

Charles Drucker, the former executive chairman and CEO of Worldpay, will become CEO of the standalone Worldpay business upon close.

“We are thrilled to partner with Worldpay and its talented team to drive forward this market leading business,” said Collin Roche, GTCR co-CEO and managing director in a statement. “Worldpay has established itself as a leader in the payments sector, and we see strong opportunity to enhance its existing physical, e-commerce and omni-channel presence through additional investment, allowing the business to capitalize on digital payment trends. We look forward to leveraging the strength of the entire organization to build an even better business, positioning Worldpay for sustainable, long-term growth.”

The transaction is expected to close by the first quarter of next year.

JPMorgan Chase Bank, N.A., Goldman Sachs, Citi, Wells Fargo Bank, National Association, Deutsche Bank Securities Inc. and UBS Securities LLC are providing debt financing support for the transaction. Citi, Wells Fargo Securities, LLC, Deutsche Bank Securities Inc. and UBS Securities LLC also served as financial advisors to GTCR. Raymond James & Associates, Inc., William Blair, TD Cowen and Piper Sandler & Co. also served as financial advisors. Kirkland & Ellis LLP provided legal counsel and Paul Hastings LLP provided regulatory legal counsel.

Founded in 1980, GTCR currently manages more than $35 billion in equity capital. GTCR is based in Chicago.

Based in Jacksonville, Florida, FIS is a provider of technology solutions for financial institutions and businesses.