Tritium Partners and StepStone Group are picking up a majority stake in Access Technology Solutions for an undisclosed amount.
Access Technology, headquartered in Provo, Utah, provides cross-border e-commerce services. The company helps merchants handle demand from consumers outside their country of origin with cloud-based technology and a logistics network. The company serves about 75 merchants worldwide. Terms of the deal were not disclosed.
Tritium Partners, headquartered in Austin, Texas, invests in lower middle-market companies. The firm has deployed more than $600 million in equity capital in Internet, information, media, logistics and business and financial services companies. The firm has also invested in HomeAway, RetailMeNot and Newgistics.
New York-based StepStone is a private equity firm that has $10 billion in assets under management. In April, the firm, in connection with Parallax Capital Partners, bought Rovi Corp.’s (Nasdaq: ROVI) DivX and MainConcept business.
Ocean Avenue Partners, which also participated in the deal, is a Santa Monica, California private equity firm that partners with other firms to invest in small businesses.
Pacific Crest Securities acted as Access Technology’s financial adviser for the deal.
For more on e-commerce, see “In-Tweet Shopping Inspires Dealmaking.”