One Equity Partners (OEP), a middle market private equity firm, has completed the sale of NuArx, a provider of Payment Card Industry (PCI) compliance and secure payment solutions, to Sysnet Global Solutions, a provider of cyber security and compliance solutions. Terms of the private transaction have not been disclosed.
Headquartered in Southfield, Michigan, NuArx provides integrated managed security and PCI compliance software to more than 100 leading retail businesses with over 40,000 merchant locations through its SecurePCI platform. The Company sells its software as subscription-based Software-as-a-Service (SaaS) with tiered features that allow customers to receive training and certify that their businesses manage payment data securely and in a PCI-compliant way.
“NuArx has demonstrated strong growth and profitability as an industry leader in PCI compliance, security, business continuity and digital transformation solutions to leading retail businesses,” says Jamie Koven, Senior Managing Director at One Equity Partners. “Under OEP’s ownership the NuArx team developed a ‘hub-and-spoke’ growth strategy that enabled NuArx to quickly gain market share and we invested in the Company’s operating infrastructure, which strengthened its finance, human resources and service delivery operations.”
OEP created NuArx when it spun the company out as an independent compliance solutions company from cloud services portfolio company ANX in May 2016.
“OEP was an exceptional partner and instrumental to NuArx’s growth,” says Rich Stanbaugh, CEO of NuArx. “The firm’s resources and investment in our operational infrastructure enabled us to transform our business to fully support our customers’ complete range of PCI compliance and transaction security requirements.”
“NuArx is an excellent example of OEP’s experience in structuring corporate carve-outs that create independent, standalone businesses and unlock value,” says Matt Hughes, Director at One Equity Partners. “We’re proud to have partnered with Rich and his talented team to establish NuxArx as a pure-play compliance solutions business focused on PCI compliance. We believe NuArx is well positioned for continued success under the ownership of Sysnet Global Solutions.”
