Bregal Sagemount LLC has made an investment in Network Merchants LLC that values the company at nearly $200 million.
Network Merchants provides e-commerce payment services to more than 60,000 merchants. The company also provides fraud monitoring, payment routing and mobile services. Terms of the deal were not disclosed.
Financing for the deal was provided by Goldman Sachs Specialty Lending Group and TPG Specialty Lending Inc.
Financial Technology Partners LP and FTP Securities LLC served as financial and strategic adviser to Network Merchants, respectively.
Bregal Sagemount, headquartered in New York, is a private equity firm that has about $500 million in committed capital. The firm makes investments between $15 million and $150 million. In September, the firm picked up Netrada North America, which also provides e-commerce services.