A group of investors including GCP Capital Partners, Western Heritage Capital, and Performance Equity Management have acquired a significant stake in Complete Merchant Solutions (CMS), a leading provider of merchant acquisition services, credit card/debit card transaction processing services, and payment solutions.
Terms of the transaction have not been disclosed.
Headquartered in Orem, Utah, CMS was founded in 2008 by President David Decker, Chief Operating Officer Trever Hansen and Chief Information Officer Kyle Hall, and the three founders will retain a substantial stake in the business. CMS is able to leverage its in-house risk management capabilities to work closely with merchants to meet their unique processing needs. CMS has also developed several technology solutions and has partnered with many independent software vendors to provide integrated payments solutions to merchants. As a result, CMS has experienced strong growth in merchants served and processing volumes, and the Company currently processes over USD2 billion of volume annually.
“We are thrilled to have attracted such experienced investors to further accelerate our growth,” says Dave Decker. “It was important to find the right partners as we focus on providing our merchants leading technology solutions that deliver affordable, reliable and secure processing.”
“We’ve had success investing in the merchant processing industry as one of the initial institutional investors in Heartland Payment Systems (NYSE: HPY). We are very excited to be partnering with Dave, Trever, and Kyle, and we believe CMS’ highly differentiated business model offers a compelling value proposition to merchants,” said Robert Niehaus, Chairman and Founder of GCP Capital Partners.
“Western Heritage has known all the parties involved for many years,” says David Glenn, founder of Western Heritage. “Given CMS’ robust merchant acquiring platform and strong growth in integrated payments, we are confident that this partnership will help CMS expand on its track record of growth.”
