LBO'd electronic payment servicer TransFirst files for an IPO that could raise $200 million

By Renaissance Capital,

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TransFirst, which provides electronic payment services to small and medium-sized businesses, filed on Wednesday with the SEC to raise up to $100 million in an initial public offering, although the deal size is likely just a placeholder. We estimate the company could raise up $200 million or more.

Transfirst claims to be the seventh largest non-bank merchant acquirer is the US. Its network includes over 1,300 distribution partners and it processed over $48 billion for 200,000 merchants in 2013. TransFirst was first acquired by private equity firm GTCR in 2000 and sold to Welsh, Carson, Anderson & Stowe in May 2007 for $683 million.

The Hauppauge, NY-based company, which was founded in 2007 and booked $1.1 billion in sales for the 12 months ended March 31, 2014, has not selected a ticker nor an exchange. BofA Merrill Lynch, Goldman Sachs, J.P. Morgan and Deutsche Bank are the joint bookrunners on the deal. No pricing terms were disclosed.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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