Transfirst Adds Underwriters Getting Ready for IPO

Transfirst Holdings Corp. filed an amended S-1 form with the U.S. Securities and Exchange Commission (SEC) regarding its initial public offering (IPO). There were no pricing terms given in the filing but the offering is valued up to $100 million, although this number is usually 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, J.P. Morgan, Credit Suisse, Barclays, Deutsche Bank, Citigroup, Jefferies, RBC Capital Markets, Wells Fargo, Raymond James, and William Blair.

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.

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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 $1.2599 billion and net loss of $4.8 million. For the nine months ended September 30, 2015, on a pro forma basis, the company had revenues of $1.1487 billion and net income of $23.3 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.