DALLAS (2017) – White Rock Advisors, LLC is pleased to announce it recently advised The Payment Group, LLC (“TPG”) of Dallas, Texas on its sale to Complus Data Innovations, Inc. (“CDI”), a portfolio company of Thompson Street Capital Partners (“TSCP”), a private equity firm based in St. Louis, Missouri.
Founded in 2000 by father and son Mark and Matt Withrow, The Payment Group is a payment processing company serving hundreds of municipalities across the United States to accept payments for various court related matters, including traffic citations, warrants, low degree misdemeanors, as well as utility payments. TPG has continued as an industry leader due in part by the Company’s software integration capabilities, as well as the high level of service provided to clients. TPG’s system is easy to access by end-users and offers a variety of payment options.
Complus Data Innovations, of Tarrytown, New York is a provider of Parking Ticket Management solutions. The acquisition of TPG will significantly increase the number of municipal clients that it serves, especially those in the Western and Southwestern region where many of TPG’s clients reside.
Matt Withrow, President of The Payment Group, stated, “We could not have done this without the expert advice and assistance of the entire White Rock Advisors team—they were integral to a successful transaction. We are extremely excited to be partnering with the Complus team, and the combination of these two businesses will immediately expand our geographic reach and allow for us to explore even more payment solutions for our customers. I am thrilled to continue as President of TPG and am eager to be part of the Complus team.”
Simon Martin, Managing Director of White Rock Advisors added, “It was a pleasure to work with Matt, Mark, and the entire team at TPG. We believe this is a very good combination of companies that will be a force in the municipal payment software and services space. We are very excited for the future of all involved and could not be happier with the process.”
About White Rock Advisors, LLC
The White Rock Advisors team is located in Dallas, Texas. White Rock Advisors is an affiliate of Chapman, Hext & Co., P.C., which is a twenty-five year old financial services firm (www.chapmanhext.com) and through companies with which it is affiliated, provides complete auditing and tax services, wealth management, merger and acquisition advisory services, institutional private placements of equity and debt, restructuring and turnaround services and general corporate finance advisory services to companies with revenues or enterprise values ranging from $10 million to $500 million. White Rock Advisors serves as the investment banking arm of Chapman Hext and focuses on building long term value for clients through unbiased advice, access to the capital markets, and expert assistance in mergers and acquisitions.
For additional information please visit www.whiterockadvisors.com.
White Rock Advisors, LLC (“White Rock”) member FINRA/SIPC is a limited purpose broker dealer that provides a limited range of brokerage and financial advisory services. White Rock does not hold customer accounts, funds or securities, accept trading orders, engage in proprietary trading or market making. White Rock is engaged solely in advising companies and private equity funds on capital raising and corporate restructuring. This is not an offer or solicitation for brokerage services, investment advisory services, or other products or services in any jurisdiction where we are not authorized to do business or where such offer or solicitation would be contrary to the securities laws or other local laws and regulations of that jurisdiction.