Mooreland Partners advises CreditCall In Sale to a Private Equity Consortium Led by Flemings, Family & Partners and Bestport Ventures
London, UK – 29 February 2012 –Mooreland Partners is pleased to announce that it acted as exclusive financial advisor to CreditCall Ltd. in its sale to a Private Equity consortium led by Fleming Family & Partners (FF&P) and Bestport Ventures.
CreditCall delivers innovative transaction processing services and secure payment technology to international customers. The company operates an ultra-reliable, global processing network, with its payment gateway connecting merchants across Europe, United States and Canada, to their banks or acquirers to accept customer payments.
The executive team including Peter Turner, Jeremy Gumbley and Siân Bosley, who are reinvesting in the business as part of this transaction, see a number of key development opportunities for the Company’s innovative product range. These includes the world’s first Chip and PIN card acceptance solution for BlackBerry and Android smartphones and EMV Chip Technology Migration solutions for the USA.
Commenting on the transaction, Peter Turner, CEO of CreditCall, said: “FF&P and Bestport’s approach to building businesses was a key factor in the Management’s decision to choose them as partners on its management buy-out. Since 2007 CreditCall has demonstrated constant innovation and continuous profitability. With the support of FF&P and Bestport, we are excited by the opportunity to increase revenues substantially in CreditCall’s current and emerging markets.”
CreditCall is a leading provider of secure credit and debit card payment processing services for any wireless-enabled device utilising their proprietary global transaction processing network linked to all major acquiring banks in the UK and US. Through the use of CreditCall’s proprietary transaction messaging protocol, almost any IP (Internet Protocol) equipped payment terminal or website can accept credit and debit card payment, enabling customers to benefit from a more secure and rapid processing of cashless transactions. The company has been a pioneer in the industry since since 1998 and has built a strong client base in the parking sector and other unattended machine verticals. The company has further grown substantially in the vast global market for mobile payments using its existing payments platform and has successfully brought to market the world’s first Chip and PIN payments solution via smartphones. For more information, please visit www.creditcall.com.
About Fleming Family & Partners
FF&P Private Equity Limited is a London based private equity firm specializing in management buyouts and buyins, development capital, replacement capital, growth capital, reorganizing shareholder bases, and middle stage financing in lower to mid market companies. For more information, please visitwww.ffandp.com.
About Bestport Ventures
Bestport Ventures LLP is a venture capital and private equity firm specializing in providing development capital to small fast-growing companies. The firm primarily provides growth and expansion capital focused on all sectors but particularly focuses on business services, healthcare, and technology. For more information, please visitwww.bestport.co.uk.