Audax Private Equity and Lovell Minnick Partners have completed a joint investment in Fortis, a payments technology provider for software vendors, ERP customers, and growing businesses. The terms of the deal have not been disclosed.
The investment, finalised on 11 March, will support Fortis in enhancing its product offerings, accelerating its M&A strategy, and scaling its infrastructure to meet the evolving demands of its customers.
Founded in 2010 and headquartered in Plano, Texas, Fortis offers payment-enablement solutions to software partners, developers, and their end users. Through its proprietary integrated platform, Fortis provides clients with secure, end-to-end payment solutions, facilitating a seamless omnichannel payment experience while processing billions of dollars in payments annually.
Lovell Minnick Partners initially invested in Fortis in December 2019. Since then, the company has completed over 10 acquisitions, bolstering its integration capabilities and vertical expertise.
Greg Cohen, who was appointed executive chairman alongside LMP’s initial investment, has served as CEO since July 2021.
William Blair acted as the sell-side advisor to Fortis, while Morgan Lewis provided legal counsel. Raymond James served as the buy-side advisor to Audax Private Equity, with Kirkland & Ellis providing legal counsel to both Audax and LMP.
