Marlin & Associates’ client BillingTree has completed a majority recapitalisation with Parthenon Capital Partners in partnership with BillingTree's senior management team.
BillingTree is a provider of omni-channel, integrated payments solutions to the healthcare, ARM and financial services industries.
Parthenon is a growth-oriented private equity firm that partners with and invests in leading management teams and their companies.
Marlin & Associates, a boutique investment banking and strategic advisory firm, acted as exclusive strategic and financial adviser to BillingTree in the transaction.
Headquartered in Phoenix, Arizona, BillingTree was established in 2003 to meet the market's growing need for a vertically-focused provider of integrated payments solutions. Serving the healthcare, ARM and financial services sectors, the company has experienced significant growth over the past few years, growing payment volumes at a compounded rate of nearly 40 per cent per annum since 2013.
In 2015, the company launched Payrazr, a proprietary, web-based solution suite comprised of a payment gateway, consumer portal and virtual terminal, among other features.
Following the growth investment from Parthenon, BillingTree will continue to focus on industry-specific strategies via integration with leading software partners in the company's core verticals, a customer-first service culture, and a variety of value-added offerings, such as the company's compliance suite.
"This is a very important step for BillingTree and its management team, and we enjoyed working with such a talented group of professionals," says Jonathan Kaufman, senior managing director at Marlin & Associates. "Edz Sturans and the team at BillingTree have an impressive track record and differentiated solution. We look forward to continue to hear about their future success."
"We would like to thank Jonathan and the team at Marlin & Associates for their strong support and expertise during this transaction," says Edgars "Edz" Sturans, BillingTree's president and CEO. "Marlin & Associates understood our industry, our company and the myriad of complex issues that must be navigated to in order to complete a successful, strategic transaction. Marlin & Associates created significant value for our shareholders as well as all of the company's stakeholders. We are extremely excited about this next chapter for BillingTree, and we look forward to leveraging our position as a leader in integrated payment solutions in order to further grow our footprint into adjacent industries."
