Welsh, Carson Puts Triple Point on Block, Seeking $750M

After less than two years, Welsh, Carson, Anderson & Stowe has put Triple Point Technology up for sale, four sources say.

The New York PE firm is seeking $750 million for Triple Point, one banker says. The Triple Point auction is in the final round and a winner could be announced in a few weeks, a second source says.

Deutsche Bank and Barclays are advising on the process, sources say.

Welsh, Carson acquired Triple Point in late 2011 for about $500 million.

Westport, Conn.-based Triple Point provides software to manage commodities and enterprise risk. The company employs 850 people spread through 15 offices.

Bidders are believed to be split among PE firms and strategics. SAP has expressed interest, as has ION Trading, which is backed by TA Associates, two sources say.

Triple Point is the latest fintech company Welsh Carson has tried to sell. Last year, the PE firm put TransFirst up for sale, but later called off the auction in favor of a dividend recap.

The fintech space has seen recent activity. ConvergEx Group, which is backed by GTCR and BNY Mellon, sold Eze Castle Software/Real Tick in January for $950 million. Also in January, ION Trading acquired Financial Software Systems, of Horsham, Pa., after acquiring IT2 Treasury Solutions of London earlier that month.

Welsh, Carson declined comment. Triple Point, Deutsche Bank and Barclays couldn’t be reached for comment.

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