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Evo Payments Said to Explore Sale That Could Fetch $2 Billion

  • Evo Payments International, the payments processor backed by Madison Dearborn Partners, is exploring a sale that could value the company at about $2 billion, people with knowledge of the matter said.The Atlanta-based company is working with Deutsche Bank AG and JPMorgan Chase Co. to explore strategic options, including a possible initial public offering, said the people, who asked not to be identified because the information is private.
  • Exploring both a sale and an IPO, known as a dual-track process, is common for private equity-owned companies as a way to determine the best exit for an investment.
  • Representatives of Evo, Madison Dearborn, Deutsche Bank, JPMorgan and Vantiv declined to comment.
  • Madison Dearborn took a minority stake in EVO in 2013 to fund international expansion.
  • In partnership with Madison Dearborn, the company has entered into agreements with PKO Bank Polski SA and Bank of Ireland while acquiring Citigroup Inc.’s merchant business, Banamex.

Evo Payments International, the payments processor backed by Madison Dearborn Partners, is exploring a sale that could value the company at about $2 billion, people with knowledge of the matter said.

@rob2775: And #payments giant @EVOPayments, after its’ massive global acquisition & partnership spree, are exploring $2bn sale

Evo Payments International, the payments processor backed by Madison Dearborn Partners, is exploring a sale that could value the company at about $2 billion, people with knowledge of the matter said.

The Atlanta-based company is working with Deutsche Bank AG and JPMorgan Chase & Co. to explore strategic options, including a possible initial public offering, said the people, who asked not to be identified because the information is private.

The company has drawn interest from potential buyers including Vantiv Inc., one of the people said. No final decision has been made and the company could decide to remain independent. Exploring both a sale and an IPO, known as a dual-track process, is common for private equity-owned companies as a way to determine the best exit for an investment.

Representatives of Evo, Madison Dearborn, Deutsche Bank, JPMorgan and Vantiv declined to comment.

Madison Dearborn took a minority stake in EVO in 2013 to fund international expansion. In 2015, the company held preliminary talks with French computer-services provider Atos SE about being acquired. Atos had looked to combine EVO with payments-services business Worldline SA, in which it owns a majority stake.

Evo, founded in 1989, has expanded beyond processing point of sale transactions in shops to include ATM, mail order and telephone services, according to its website.

In partnership with Madison Dearborn, the company has entered into agreements with PKO Bank Polski SA and Bank of Ireland while acquiring Citigroup Inc.’s merchant business, Banamex.

Evo Payments Said to Explore Sale That Could Fetch $2 Billion