William Blair acted as financial advisor to Fortis Payment Systems (Fortis) in connection with its recapitalization by existing investor Lovell Minnick Partners (Lovell Minnick) and new investor Audax Group (Audax). The transaction closed on March 11, 2025.
About the Companies
Fortis is a scaled integrated payment technology provider based in Plano, Texas that enables its channel partners (e.g., ISVs, ERPs, VARs) to provide software-embedded, omni-channel payment acceptance to their middle-market merchants. Fortis differentiates itself in the merchant acquiring ecosystem through its highly customizable payment solutions, robust product set accessible via a single API, unmatched connectivity into the ERP ecosystem, and value-added services that are designed to serve merchants’ complex use cases and increase payment adoption.
Founded in 1999, Lovell Minnick is a private equity firm based in Philadelphia, Pennsylvania. The firm seeks to invest in management-driven, growth-oriented companies that span the supply chains of investment products, insurance products, credit products, and payments by partnering with founders and leadership teams to accelerate value creation through organic growth and strategic acquisitions, positioning their businesses for long-term, sustainable success.
Founded in 1999, Audax is a private equity firm based in Boston, Massachusetts. The firm seeks to invest in companies operating in business services, consumer, financial services, healthcare, industrial services & technologies, and software & technology sectors across the United States and Canada.
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