Onyx Payments, an H.I.G. Capital portfolio company, has inked two cross-border deals.
The Dallas-based company has acquired Net Trans Services and Worldwide Payment Systems. Terms of each deal remain undisclosed, but H.I.G. typically invests $10 million to $30 million of equity into companies with revenue ranging from $20 million to $100 million across multiple industries. The financial sponsor has about $15 billion in capital under management.
Worldwide Payment, of Spain, is a data and payment processing company while Net Trans, of Norway, provides a hotel commission recovery and reconciliation services for travel agencies and other hotel booking professionals. (Pictured: Net Trans CEO Martin Jorgensen)
The transaction continues H.I.G.'s aggressive stance in buying foreign tech companies. In September, HIG made a deal through its Brazilian affiliate and picked up two Brazilian digital media companies Grupo NZN and Click Jogos. Before that, HIG closed the sale of Capstone Logistics to the Jordan Co. The Miami-based private equity firm also recently sold American Hardwood Industries to Baillie Lumber.
The payments sector has seen a flurry of M&A activity for several years.