Ontario Teachers to lead buy of First American Payment Systems
First American Payment Systems LP has agreed to be bought by an investor group led by Ontario Teachers' Pension Plan. Members of the company's management team will also participate in the acquisition, whose financial terms were undisclosed. The seller in the deal is U.S. private equity firm Lindsay Goldberg, which originally invested in First American in 2003. According to a recent report from peHUB's Luisa Beltran, there have been repeated attempts in the past few years to sell the company. Based in Fort Worth, Texas, First American is a payment processor that provides electronic transaction processing services to merchants. Its sale is expected to be completed in August.
21 July 2014•2 mins read
