Victory Park Capital Provides Acquisition Financing to LaSalle Capital Group
Jul 11, 2016
CHICAGO – July 11, 2016 – Victory Park Capital (VPC), an investment firm focused on private middle market debt and equity investments, announced that it has provided LaSalle Capital with a senior secured credit facility to fund the recapitalization of Processing.com, LLC (Processing.com). Processing.com is a leading payment services provider (PSP) focused on providing e-commerce merchants payment processing solutions and services that allow for the acceptance of online payments in multiple currencies around the globe. Processing.com connects its customers through the company’s proprietary payment processing platform to an extensive network of bank partners. In addition, the company deploys industry-leading security and fraud analytics as well as real-time reporting tools.
Avi Chesed, CEO of Processing.com, stated, “We are very excited to partner with LaSalle Capital and VPC in the next stage of growth of our business. We believe that our capital partners’ expertise in helping to build technology-enabled services companies coupled with our existing strategy will enable the company to expand its global footprint and accelerate growth.” Jon Avganim, president of Processing.com, continued, “We are excited about what the partnership with LaSalle Capital and VPC means for our customers as it will allow us to further invest in our technology-driven solutions for merchants, independent sales organizations (ISOs), and acquiring banks.”
Tom Affolter, partner at VPC, said, “The management team has built an innovative and scalable payments platform with superior service, reliability and security. We look forward to working with management and LaSalle Capital to continue the growth of the company as a leader in the payments industry.”
Nick Christopher, partner at LaSalle Capital, commented, “VPC’s significant experience in the financial technology industry made them a natural partner for this transaction. We look forward to collaborating with VPC to help support the growth of Processing.com’s business.”
About Processing.com, LLC
Processing.com is a leading PSP focused on providing e-commerce merchants payment processing solutions and services that allow for the acceptance of online payments in multiple currencies around the globe. Processing.com connects its customers through the company’s proprietary payment processing platform to an extensive network of acquiring banks. In addition, the company deploys industry-leading security and fraud analytics as well as real-time reporting tools. For more information, visit: https://www.processing.com.
About LaSalle Capital
LaSalle Capital is a leading private equity firm with extensive experience in the lower middle market managing two funds totaling over $330 million in capital. The LaSalle Capital team has deep experience in partnering with management teams to grow and develop middle market businesses and adds value to companies by providing a strategic operating focus and promoting growth organically and through acquisitions. For more information, visit: http://www.lasallecapitalgroup.com.