Thompson Street Portfolio Company Complus Data Innovations Acquires The Payment Group
ST. LOUIS (January 13, 2017) – Thompson Street Capital Partners (TSCP), a private equity firm based in St. Louis, announced today that its portfolio company, Complus Data Innovations, Inc., (CDI), has acquired The Payment Group, LLC (TPG) based in Dallas, Texas. TPG (www.thepaymentgroup.com) serves the payment processing needs of more than 400 municipal courts and utilities across the country, offering software integrations with court case management systems and mobile device compatibility to accept payments for various court-related matters, including traffic citations, warrants, low degree misdemeanors, as well as utility payments. White Rock Advisors, LLC, based in Dallas, Texas, served as the exclusive financial advisor to TPG. Terms of the transaction were not disclosed.
Using its fully-integrated software system, Connect™, TPG provides cities with a completely automated payment system for receiving payments online and processing them instantly – saving time, cutting costs, and generating more revenue for its municipal clients while making it easier for citizens to pay remotely or via phone. Founded in 2000, the Company has differentiated itself based on its strong technology and commitment to customer service.
Combined with its recent acquisition of CiteZone, based in Irvine, California, the acquisition of TPG brings the number of municipal customers serviced by the companies to more than 600 across the northeastern, western and southern U.S. Having additional offices in these key markets will provide strategic opportunities for Complus to offer its unique integrated software and payments services platforms to even more municipal clients.
According to Ariel Kunar, CEO of Complus Data Innovations, “CDI and TPG are an ideal strategic fit. We now have the ability to provide more payment solutions to our existing customers while offering citation and permitting management solutions to the existing customers of TPG. It is our plan to work to integrate the leading technology of both businesses while keeping our focus on providing the best technology to the market. We plan to continue aggressively pursuing acquisition opportunities that will expand our geographical markets while adding to our leading class of software and payment solutions.”
Matt Withrow, President of The Payment Group said, “We are extremely excited to be partnering with the Complus team through this acquisition. The combination of these two businesses will immediately expand our geographic reach and allow for us to explore even more payment solutions for our customers. I am excited to continue as President of TPG and am eager to be part of the Complus team.”
Said Jim Cooper, Managing Partner of Thompson Street Capital Partners, “The Payment Group has built a reputation among municipal court systems and utilities throughout the country for unsurpassed quality and customer service. As a result of this combination, the companies will be a greater force within the municipal payment software and services niche. We’re happy to be able to help TPG continue its history of growth and service while improving the operating efficiency of court systems and municipal owned utilities across the United States.”