Transfirst Files for IPO

By Chris Lange Published Oct 19, 11:15AM EDT

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Transfirst Holdings has filed an S-1 form with the U.S. Securities and Exchange Commission (SEC) for its initial public offering (IPO). No terms were given in the filing, but the offering is valued up to $100 million, although this number normally is just a placeholder. The company intends to list on the Nasdaq Global Select Market under the symbol TF.

The underwriters for the offering are Goldman Sachs, JPMorgan, Credit Suisse, Barclays, Citigroup, Jefferies and RBC Capital Markets.

This is a leading provider of payment technology solutions to merchants in the United States, as measured by processing volume. The company is differentiated by its single proprietary technology platform, which enables it to provide a broad suite of payment products, end-to-end payment solutions and superior customer support. Transfirst is able to deliver these services across multiple points of access, including brick-and-mortar locations, software integration, e-commerce, mobile and tablet-based solutions.

The company sells its solutions through a diversified network of over 1,300 distribution partners that it has built over the past 20 years by leveraging specialized expertise in integrating and developing these relationships.

For the year ended December 31, 2014, on a pro forma basis, Transfirst had revenues of $1,259.9 million and net loss of $3.2 million. For the six months ended June 30, 2015, on a pro forma basis, it had revenues of $742.6 million and net income of $11.8 million.

Transfirst intends to use the net proceeds from this offering to repay its outstanding borrowings under its existing first lien and second lien credit facilities. The remaining proceeds will be put toward working capital and general corporate purposes.

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About the Author Chris Lange →

Chris Lange is a writer for 24/7 Wall St., based in Houston. He has covered financial markets over the past decade with an emphasis on healthcare, tech, and IPOs. During this time, he has published thousands of articles with insightful analysis across these complex fields. Currently, Lange's focus is on military and geopolitical topics.

Lange's work has been quoted or mentioned in Forbes, The New York Times, Business Insider, USA Today, MSN, Yahoo, The Verge, Vice, The Intelligencer, Quartz, Nasdaq, The Motley Fool, Fox Business, International Business Times, The Street, Seeking Alpha, Barron’s, Benzinga, and many other major publications.

A graduate of Southwestern University in Georgetown, Texas, Lange majored in business with a particular focus on investments. He has previous experience in the banking industry and startups.