Card payment specialist swoops for rival
PAYA Group, the independent card processing solutions business, has acquired a Chichester-based B2B card payment provider in a deal supported by alternative lender ThinCats.
The swoop for Interactive Transaction Solutions (ITS) will see PAYA strengthen its IT capabilities, affording it greater control over the agility of its payment propositions.
The Northampton-based company provides a range of card acceptance services across multiple sectors.
PAYA Group CEO Bill Thomson will take on a leadership role at ITS following the deal. He will be supported by the firm’s existing management team.
Kevin Steven of Pierce Corporate Finance advised PAYA Group, with Holly Threlfall and Justin Wilson of Franklins Solicitors LLP providing legal advice on the transaction.
Thomson said: “We are delighted to announce the acquisition of ITS, a business that has built a fantastic reputation in the market. The Group will benefit through its valuable technology-based payment gateway, which will provide an opportunity to build out our customer base even further. We are thrilled that we will be able to leverage the synergies to the benefit of our clients, giving assurance to customers that we will be there to deliver service in the long term.”
Ben Kimball, director of regional business development at Ashby-based ThinCats, added: “It is great to support a growing and ambitious business like PAYA, whose work in the charity sector has had such a significant and positive impact. ITS is the perfect fit and will enhance the group’s proposition and delivery. Great to work with Kevin on another transaction and we look forward to seeing the group continue its strong growth trajectory.”
