GlobalCollect announced today that Welsh, Carson, Anderson & Stowe (WCAS), one of the largest and most successful private equity investment firms in the United States, has signed an agreement to acquire the majority share in GlobalCollect from General Atlantic LLC (GA), a leading global growth equity firm holding shares in GlobalCollect since 2007.
GlobalCollect's senior management continues to hold the remaining stakes in the firm and will remain in charge of the operational business. The terms of the transaction were not disclosed.
Sanjay Swani, Member of the Management Committee of WCAS, said: "We are very pleased to add GlobalCollect to our portfolio of market-leading companies we invest in. With its excellent growth performance and proven track record as a leading Payment Service Provider, GlobalCollect fits our investment strategy perfectly. WCAS has over twenty years of experience investing in the payments industry and we look forward to partnering with the GlobalCollect team to build on the company's outstanding leadership position."
Jan Manten, CEO of GlobalCollect, continued: "This strategic move is further testimony to GlobalCollect's success story over the last 16 years, during which we continuously outperformed market benchmarks. A success based on our unrivalled portfolio of payment methods and full service concept which helps our online merchants to expand their business and increase revenues in turn. We thank General Atlantic for the excellent cooperation and look forward to continuing our strategic growth strategy in collaboration with WCAS."