Payroc, which is backed by Parthenon Capital, has acquired Bluestone Payments LLC, a provider of payment programs to merchants. No financial terms were disclosed.
CHICAGO (PRWEB) NOVEMBER 18, 2020
Payroc WorldAccess, LLC (“Payroc”), a leading merchant acquirer and global payment processing organization, announced today the acquisition of Bluestone Payments, LLC. Founded by Linda Rossetti, Bluestone is an Independent Sales Organization launched in 2006. Bluestone provides payment programs to merchants through referral relationships in niche markets.
“I’m extremely excited to bring Bluestone into the Payroc family,” said Joe Natoli, EVP of Mergers & Acquisitions at Payroc. “I have known Linda for over 25 years and always had a great deal of respect for her. Linda has a great understanding of how our industry works, and in previous roles, she was instrumental in ensuring we had the latest products and services the payments ecosystem had to offer.”
“I am thrilled to become part of the Payroc management team and look forward to expanding our 25+ year relationship,” said Linda Rossetti, Founder and President of Bluestone. “Our philosophies towards customer success are aligned and evident throughout our past experiences of accomplishments. Bluestone is and has always been a merchant advocate first and foremost. I am excited to be able to increase our customer offerings with Payroc’s technology stack and international reach, which will provide the opportunity to drive future growth for both our companies.”
Prior to creating Bluestone, Rossetti served as the President of Third-Party Relationships and the Senior Vice President of Strategic Initiatives for Global Payments Inc., building unique partnerships driving valuable benefits for all stakeholders. She was Co-Founder and senior executive of NOVA Information Systems (now known as Elavon) and held prior sales and sales management roles with National Data and Citicorp.
Rossetti will remain the President of Bluestone and take on an expanded role as EVP, Strategic Initiatives at Payroc.
Payroc is backed by private equity firm Parthenon Capital who assisted Payroc in completing this acquisition. Bluestone was represented by Alex Wayman, Managing Director of Eastabrook Advisors, LLC out of Boston, MA.
Learn more by visiting https://payroc.com.
Payroc is a high-growth, international merchant acquirer, payment facilitator, and processing powerhouse operating in 46 countries, and processing over $29 billion in annualized volume for more than 66,000 merchants. Payroc offers best-in-class sales enablement and merchant processing technology, delivering proprietary, innovative and full-service merchant acquiring solutions together with key card brand network payment sponsorship registrations. Payroc WorldAccess, LLC, is a registered VISA third party processor, Mastercard third party servicer, payment facilitator and encryption support organization for Fifth Third Bank. Payroc is a registered independent sales organization (ISO/MSP) for Fifth Third and Wells Fargo Bank, N.A., Concord, California. NXGEN, one of Payroc’s companies, is an Elavon payments partner and registered as an ISO/MSP of Elavon, Inc., Georgia, a wholly owned subsidiary of US Bank Minneapolis. The company’s Canadian business companies are registered ISO/MSP of Wells and Peoples Trust Company, Vancouver, Canada. For more information, please visit payroc.com.