Advent and Bain to invest £200 million in WorldPay

Advent and Bain to invest £200 million in WorldPay

The new private equity owners of payment processor RBS WorldPay say they intend to invest £200 million in the firm and create up to 250 jobs.

The investment programme comes as Advent International and Bain Capital formally take control of the company following their winning £2 billion bid in August. Royal Bank of Scotland, which was forced to sell the business under EU bail-out conditions, retains a 20% stake.

Headquartered in the UK, WorldPay employs over 2600 people in more than 30 markets throughout Europe, the US and Asia.

Anticipating continued growth in card payments and emerging opportunities in e-commerce and developing economies, Advent and Bain say they intend to beef up the management team and add new positions as they inject a further £200 million into the coffers.

Ron Kalifa, CEO of WorldPay, says: "Independence and private ownership give us the potential to transform the payments industry through long term investment in our technology, our people and our business. We now look forward to building on the first class service that our clients have come to expect, under the joint ownership of Advent International and Bain Capital."

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