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GTCR acquires BankServ

Private equity firm GTCR has agreed to acquire a majority stake in BServ, Inc, a leading SaaS (software-as-a-service) provider offering financial services and banking technology that facilitates electronic corporate payments and bank-to-bank payment transactions.

GTCR is partnering with founder and CEO David Kvederis and the management team at BankServ as they continue to grow and expand the business. The Company offers Fedwire processing, SWIFT messaging, remote deposit capture, mobile and online payment processing technology and services for financial institutions and corporations. BankServ has completed a number of successful acquisitions and has earned a strong reputation in the market by providing leading software and technology solutions combined with high quality customer service.

“We are extremely excited to partner with David Kvederis to continue building a leading payments and financial technology franchise through acquisitions and internal growth,” says GTCR principal Collin Roche (pictured. “BankServ has a long history of innovation and value creation and we look forward to working with David and his team to build upon that success going forward.”

“GTCR’s strong track record in financial technology and payments makes them a perfect partner for BankServ,” adds Kvederis. “We are very enthused to have an equity partner fully committed to growing and investing in our business to best serve the needs of our customers.”

Kirkland & Ellis LLP served as legal counsel to GTCR. Bank of Montreal, SunTrust Robinson Humphrey, and Silicon Valley Bank provided debt financing in connection with the transaction. GTCR’s investment in BankServ will be made from GTCR Fund X, a private equity fund with USD3.25 billion of committed capital.

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