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TA is said to seek buyer for BluePay Processing

TA Associates is putting BluePay Processing up for sale, according to three sources.

Credit Suisse is advising on the deal, the people said.

The auction is set to launch in the summer, one source said. BluePay is expected to fetch $700 million to $800 million, the person said.

BluePay, Naperville, Illinois, provides payment-processing services for merchants and suppliers in the U.S. and Canada. The company provides services to more than 47,000 businesses and processes $14 billion in transactions annually.

TA acquired BluePay in 2013 for more than $200 million, Buyouts reported at the time. The firm’s investment came from TA XI, which collected $4 billion in 2009. The growth private equity firm is currently investing out of TA XII, which reportedly raised $5.3 billion in 2015.

Buyout shops are frequent investors of payments companies. Firms including GTCR, Warburg Pincus, Vista Equity Partners, Bain Capital Private Equity, KKR and Blackstone Group have invested in the space.

In April, Francisco Partners agreed to sell Paymetric, a provider of payment-processing software, to Vantiv for around $500 million.

Evo Payments, a Madison Dearborn Partners portfolio company, is also up for sale, Buyouts has reported. The company is conducting a dual-track process, exploring both a sale and an IPO, the story said.

TA, BluePay and Credit Suisse could not be reached for comment.

Action Item: Contact BluePay CEO Bala Janakiraman at +1 866-739-8324

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