BluePay Processing, Inc., a Naperville, Illinois-based provider of technology-enabled payment processing services to merchants in the United States and Canada, completed a majority recapitalization.
TA Associates, a global growth private equity firm, invested in BluePay in conjunction with the management, acquiring Goldman Sachs’ stake in the company. In conjunction with the transaction, Roger B. Kafker and M. Roy Burns, TA Associates, joined the company’s Board of Directors.
The investment is designed to help BluePay expand its reach.
Founded in 2003, and led by John Rante, Chairman and CEO, BluePay offers solutions that enable merchants across the United States and Canada to securely accept electronic payments and integrate with third-party and customer-specific business applications to simplify business processes.
The company also has offices in Chicago and New York.