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Prospect Capital Supports Recap of Payliance

December 18, 2019, 08:00 AM
Filed Under: Industry News
Related: Prospect Capital

Prospect Capital Corporation (PSEC)  announced that Prospect has purchased $31 million of first lien senior secured floating rate notes for the recapitalization of Collections Acquisition Company, Inc. (d/b/a “Payliance”).

Founded in 2009 and headquartered in Columbus, Ohio, Payliance provides a complete suite of solutions for payments processing, payments recovery, and risk management designed to solve payment acceptance challenges and help customers drive competitiveness and profitability. Payliance provides payment processing solutions for Automated Clearing House (ACH), electronic check (eCheck), remotely created check (RCC), debit card, and credit card processing.

Payliance is a portfolio company of Serent Capital (“Serent”), a leading lower-middle market private equity firm focused on investing in high growth service and technology businesses. Founded in 2008, Serent has offices in San Francisco, California and Austin, Texas.

“We were pleased to work with Prospect, which was proactive, diligent, and creative on this transaction,” said Steve Marks, Vice President of Serent. “Our Serent team looks forward to working with Prospect as we seek to grow Payliance and close additional future transactions.”

“We found Payliance’s payment processing solutions to be comprehensive, tailored to client needs, and scalable, all attractive credit highlights in the payment processing space,” said Angel Solis, Principal at Prospect Capital Management L.P. “We are excited to support Serent on this transaction and assist with the company’s growth.”

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