WCAS exits GlobalCollect for €820m

Welsh, Carson, Anderson and Stowe will sell the e-payments provider to Ingenico Group

Welsh, Carson, Anderson and Stowe, has sold portfolio company GlobalCollect for €820 million to Ingenico Group. The transaction generated sale proceeds of approximately $815 million, which will be distributed to the partners.

In 2013, the firm also distributed approximately $160 million following GlobalCollect’s most recent debt recapitalization.

WCAS declined to comment on the deal.

WCAS first acquired GlobalCollect in 2010 from General Atlantic in 2010. The management team has held the remaining stakes since General Atlantic’s ownership and maintains firm operations. GlobalCollect provides a full suite of merchant payment services with a worldwide network spanning 170 countries and territories, 150 currencies as well as 150 international and local payment methods.

Today’s announcement comes on the heels of several other successful exits for WCAS over the first half of 2014, including the sale of Solstas Lab Partners and Peak 10. The firm sold Peak 10 to GI Partners for $730 million, PEI reported in June.

WCAS has also completed the initial public offerings of Paycom Software, Inc. (NYSE: PAYC), and K2M Group Holdings, Inc. (Nasdaq: KTWO).

The firm is currently in market for its Welsh Carson Anderson & Stowe XII vehicle which has a $3 billion target according to Private Equity International’s research and analytics division.