LaSalle Capital has acquired a stake in payment solutions provider Processing.com. No financial terms were disclosed.
SHERMAN OAKS, Calif., June 22, 2016 /PRNewswire/ — Processing.com, a global payments solutions provider, is pleased to announce that LaSalle Capital, a Chicago-based private equity firm, has partnered with its executive team to collaborate on the execution of management’s vision of further expansion. As part of the transaction, LaSalle Capital acquired an interest in Processing.com.
Avi Chesed, CEO of Processing.com, stated, “We are thrilled to partner with LaSalle Capital at this exciting period of our growth. We believe that LaSalle’s expertise in helping build technology-enabled service companies will enable the Company to expand its global footprint and vastly accelerate our expansion.” Jon Avganim, President of Processing.com, continued, “We are excited about what the partnership with LaSalle means for our customers as it will allow us to further invest in our technology-driven solutions for merchants, ISOs, and acquiring banks.”
Nick Christopher, Partner at LaSalle Capital, commented, “The management team has built a scalable and innovative payments platform with superior service, reliability and security. We look forward to working with management to continue the growth of the Company as a leader in the payments industry.”
Processing.com is a leading PSP focused on providing e-commerce merchants payment processing solutions and services that allow for the acceptance of online payments in multiple currencies around the globe. Processing.com connects its customers through the Company’s proprietary payment processing platform to an extensive network of acquiring banks. In addition, the Company deploys industry-leading security and fraud analytics as well as real-time reporting tools.
About LaSalle Capital
LaSalle Capital is a leading private equity firm with extensive experience in the lower middle market managing two funds totaling over $330 million in capital. The LaSalle Capital team has deep experience in partnering with management teams to grow and develop middle market businesses and adds value to companies by providing a strategic operating focus and promoting growth organically and through acquisitions.