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.
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.”