Payroc WorldAccess, a leading non-bank payment processor based in Tinley Park, Illinois, has significantly expanded its business with the $440 million acquisition of i3 Verticals’ payments division, enhancing its annual revenue to approximately $500 million. This latest acquisition, which also resulted in a reduction of 15 employees, is part of Payroc’s aggressive expansion strategy that has been in motion since 2018. The company, backed by private equity firm Parthenon Capital Partners, aims to continue its acquisition spree, eyeing around 50 potential targets, with plans to raise additional capital for future deals. The ultimate goal for Payroc is a public offering, although the timeline for an IPO remains flexible. CEO Adam Oberman stated that they plan to start preparing for the IPO within the next year.

Financial Services – Payments Processing, Financial Services – Private Equity,United States, Canada