Deloitte Advises Optimal Payments in Acquisitions
Deloitte Corporate Finance (DCF) acted as advisor to Optimal Payments on two recent acquisitions: Santa Ana, CA-based payment processing entity TK Global Partners d/b/a Meritus Payment Solutions for consideration of $210 million; and Los Angeles-based online payments company Global Merchant Advisors (GMA) for consideration of up to $15 million. Both transactions closed on July 23, 2014.
DCF advised Optimal Payments as part of its broader advisory role in connection with Optimal Payments’ pursuit of acquisition targets globally. The closing of these two transactions marks nearly $1 billion in payments-related transactions on which DCF has advised over the past four months, further solidifying Deloitte’s position as the global leader in Cards & Payments Consulting according to Kennedy Consulting Research & Advisory’s “Consulting to the Banking Sector: Cards & Payments 2013″ report.
“After careful evaluation of a number of potential candidates, Meritus stood out as the perfect choice on all fronts,” said Joel Leonoff, president and chief executive officer, Optimal Payments. “Meritus’ strong stakeholder relationships, multi-channel sales force, established presence with small- and mid-sized businesses in the U.S. and entrepreneurial spirit make them an ideal acquisition for Optimal Payments. We also believe that GMA is the perfect complement to that.”
According to Sara Elinson, managing director, Deloitte Corporate Finance, “We are delighted to assist Optimal Payments with its acquisition strategy. These transactions are a testament to our ongoing commitment to advise and support Optimal Payments in executing its growth strategy and our ability to provide seamless global service to the payment sector overall.”
Optimal Payments is a global provider of online payment solutions.