Celero Commerce, a Nashville, Tenn.-based vertically-focused commerce solutions provider, acquired Elmhurst Financial Services, a Brentwood, TN-based financial institution-focused payment processing provider, and Tandem Innovative Payment Solutions, a Greenville, SC-based technology-focused payment processing provider.
The amount of the deal were not disclosed.
These acquisitions strengthen Celero’s expertise in providing payment processing, business management software, technology, and customer support to its financial institution partners and SMB customers. Following the additions of Elmhurst and Tandem, Celero will serve approximately 25,000 merchants and process approximately $10 billion in annual payment volume, with more than 100 employees in five offices across the U.S.
Founded by Paul England, Elmhurst partners with community and regionally-focused financial institutions, assisting them to develop and optimize their customer relationships.
Founded by Larry Feniger, Tandem provides technology-oriented payment processing solutions to financial institutions and SMB merchants.
Led by Kevin Jones, CEO, Celero Commerce is a full-service, integrated electronic commerce solutions provider powered by technology, strategic partnerships, and business intelligence. The company offers payment processing services, business management software, and data intelligence to small and medium-sized businesses, empowering them to drive growth and profitability.
As part of these transactions, senior leaders of the two companies will join Celero’s management team.