Harris Williams Advises Transaction Services Group on its Pending Sale to Advent International

July 8, 2019

Harris Williams, a global investment bank specializing in M&A advisory services, announces that it is serving as co-advisor to Transaction Services Group (TSG), a portfolio company of Calera Capital (Calera), on its pending sale to Advent International (Advent). TSG is a global payment solutions provider. The transaction is being led by Mike Wilkins, Tyler Dewing, Priyanka Naithani, Brian Titterington and John Mathias  of Harris Williams’ Technology, Media & Telecom (TMT) Group.

“With customers worldwide, TSG is truly a global leader in integrated software and payments solutions,” said Mike Wilkins, a managing director at Harris Williams. “Their software-based solutions drive significant value for their customers by increasing membership retention and driving revenue growth.”

“TSG targets highly attractive, fast growing end markets including health and fitness and childcare,” added Tyler Dewing, a managing director at Harris Williams. “We’re thrilled to see TSG partner with an experienced payments and software investor in Advent and are excited to see the company continue to execute against a strong growth plan.”

TSG is a leading global revenue management solutions company that provides business management software, integrated payments and value-added services to clients around the globe. TSG offers highly differentiated, targeted solutions to a range of industries including health and fitness, childcare, education, insurance, healthcare, sports and entertainment. These solutions are organized around numerous platforms including Clubware, Links Modular Solutions, QK Technologies, Debitsuccess, Paysmart, DFC and Harlands Group, operating across Australasia, the United States, the United Kingdom, Europe and Asia.

Founded in 1991, Calera is a private investment firm which has invested over $3.5 billion. With offices in Boston and San Francisco, Calera focuses on partnering with founders and management teams to drive significant value creation in their businesses, primarily in two industry sectors: business services and specialty industrials. Calera makes substantial equity investments in middle market businesses and works closely in support of management to build long-term sustainable value through the implementation of strategic and operating initiatives.

Founded in 1984, Advent is one of the largest and most experienced global private equity investors. As of December 31, 2018, the firm had $36 billion (€31 billion) in assets under management, which does not include the $17.5 billion (€15.6 billion) raised for GPE IX. With 14 offices in 12 countries, Advent has established a globally integrated team of more than 195 investment professionals across North America, Europe, Latin America and Asia. After 35 years dedicated to international investing, Advent remains committed to partnering with management teams to deliver sustained revenue and earnings growth for its portfolio companies.

Harris Williams, an investment bank specializing in M&A advisory services, advocates for sellers and buyers of companies worldwide through critical milestones and provides thoughtful advice during the lives of their businesses. By collaborating as one firm across Industry Groups and geographies, the firm helps its clients achieve outcomes that support their objectives and strategically create value. Harris Williams is committed to execution excellence and to building enduring, valued relationships that are based on mutual trust. Harris Williams is a subsidiary of the PNC Financial Services Group, Inc. (NYSE: PNC).

Harris Williams’ TMT Group advises leading private and public companies, entrepreneurs, private equity firms and venture capital firms on mergers and acquisitions and capital-raising transactions worldwide. The TMT Group has deep domain expertise in the Software/SaaS and Internet & Digital Media segments, with particular emphasis on specific verticals including education technology, data analytics, energy technology, fintech, public sector, and supply chain/logistics—with a dedicated healthcare technology (HCIT) practice. Across verticals, the firm also advises technology services and networking solutions businesses. For more information on the TMT Group and its recent transactions, visit the TMT Group’s section of the Harris Williams website.

Harris Williams LLC is a registered broker-dealer and member of FINRA and SIPC. Harris Williams & Co. Ltd is a private limited company incorporated under English law with its registered office at 5th Floor, 6 St. Andrew Street, London EC4A 3AE, UK, registered with the Registrar of Companies for England and Wales (registration number 07078852). Harris Williams & Co. Ltd is authorized and regulated by the Financial Conduct Authority. Harris Williams & Co. Corporate Finance Advisors GmbH is registered in the commercial register of the local court of Frankfurt am Main, Germany, under HRB 107540. The registered address is Bockenheimer Landstrasse 33-35, 60325 Frankfurt am Main, Germany (email address: hwgermany@harriswilliams.com). Geschäftsführer/Directors: Jeffery H. Perkins, Paul Poggi. (VAT No. awaited). Harris Williams is a trade name under which Harris Williams LLC, Harris Williams & Co. Ltd and Harris Williams & Co. Corporate Finance Advisors GmbH conduct business.