Private equity firm TA Associates has completed a majority recapitalization of BluePay Processing Inc.

BluePay Processing provides technology-enabled payment processing services to merchants in the U.S. and Canada. The Naperville, Ill.-based company provides card present, e-commerce and mobile payment services.

TA acquired a stake in BluePay from Goldman Sachs & Co. (NYSE: GS), which invested in the company in 2008.

The Boston firm invested in Bats Global Markets Inc. in August, Prometheus Group in July, and Fractal Analytics in June. 

Goodwin Proctor LLP acted as TA’s legal counsel. Raymond James & Associates acted as BluePay’s financial adviser, while Locke Lord LLP provided legal advice.

The deal comes during a wave of activity in the e-payments sector. Recent deals include Net Element International’s (Nasdaq: NETE) acquisition of payment-processing service Unified Payments, and Spire Payments Holdings deal for Thyron Payments Systems, a mobile payments company.

For more on mobile payments, see “Swiping Up E-Payments.” 

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