Transnational Payments is on the block

Transnational Payments is up for sale, four sources said.

The Rosemont, Illinois company has hired FT Partners, the people said. Transnational produces Ebitda of $8 million to $10 million, sources said.

John Pitzaferro, CEO, founded the company as Transnational Bankcard in 1999. Now known as Transnational Payments, the company provides credit card processing, payroll as well as mobile payment processing for merchants and businesses.

It’s unclear how much Transnational could fetch. Highly-valued payments companies often sell for double digit Ebitda. GTCR is seeking 20x or $1 billion-plus for Paya, PE Hub reported.

This month, FT Partners advised on Elavon’s $299 million buy of Sage Pay. It also served as the banker to Assurance in its $3.5 billion sale to Prudential Financial in September, as well as Root’s $350 million Series E round that month.

Transnational and FT Partners could not be reached for comment.

Action Item: For more information, contact Pitzaferro by calling (888) 998-6224