manoj.b@eempl.com

Sage Group is selling its payroll solutions business for an apparent loss, four years after buying the company. Accel-KKR is buying the company, formerly known as PayChoice, for about 78 million pounds ($94.4 million). Terms of the deal call for Accel-KKR to pay 73 million pounds cash on completion of the deal, while 5 million […]

Victor Capital Partners, the independent sponsor led by a former Blackstone Group executive, clinched its second deal. The New York firm invested in Tender Corp along with company management. Victor will have a more than 80 percent stake in the company, said Douglas Korn, founder and managing partner. Terms weren’t disclosed, but Victor Capital typically […]

Lightyear Capital has put Advisor Group up for sale, three years after buying the broker-dealer, three sources said. Barclays is advising on the process, one of the sources said. Advisor Group, of Phoenix, is a network of more than 5,000 financial advisers. The company is comprised of four broker-dealers: FSC Securities Corp, Royal Alliance Associates […]

Carlyle Group needed only three months to raise its latest lower-middle-market technology fund. Fundraising for the one-and-done pool began in October, said Mike Arpey, Carlyle’s global head of IR. CETP IV ended up closing on 1.35 billion euros ($1.55 billion), double the 656 million euros CETP III collected in 2014. CETP IV was targeting 1.25 billion […]

Stone Point Capital’s sale of Kestra Financial has hit the second round, according to three sources. Goldman Sachs is advising on the process, the people said. Established in 1997, Kestra is an independent broker/dealer with about 2,300 affiliated advisers. The Austin company had $76 billion in assets under advisement in 2017 and $24 billion of […]

Sarah Bradley, a well-known private equity executive who helped launched Kainos Capital, has sued the Dallas firm she helped start seven years ago, along with three principals. The lawsuit, filed Jan. 25 in Delaware Court of Chancery, alleges that Andrew Rosen, co-founder and managing partner; Robert Sperry, co-founder and partner, and CFO David Knickel perpetrated a fraudulent scheme […]

In the end, it wasn’t a strategic or a PE firm that ended up buying Realtime Electronics Payments, or Repay, from Corsair Capital. Thunder Bridge, a blank-check company led by the former CEO of Endeavor Capital Management, said Jan. 22 it was merging with Repay. The deal valued the Atlanta payments provider at $653 million. […]

Looming debt maturities are likely to push Crossmark Holdings Inc, a portfolio company of Warburg Pincus, to restructure sometime in the next year, according to Standard & Poor’s. The Plano, Texas, marketing service company entered into a restructuring support agreement with its lenders in December, S&P said in a Jan. 17 report. The banks also […]

KKR just took another big step in its years-long exit of First Data, the payments company it acquired for $26 billion 11 years ago. Financial technology giant Fiserv announced on Jan. 16 that it agreed to buy the Atlanta payments processor for $22 billion. Once the transaction closes, Fiserv will own 57.5 percent of the combined […]

Blackstone Group’s new growth platform, led by noted fintech investor Jon Korngold, will focus on more than just financial services. The Blackstone unit will invest across all sectors and geographies, Buyouts has learned. Whether the growth division will seek to raise a fund around the strategy is unclear. Korngold, 44, is known for his investments […]