BillingTree is a provider of omni-channel, integrated payments solutions to various industries
REPAY Completes Acquisition of BillingTree. (Credit: Ahmad Ardity from Pixabay.)
Repay Holdings Corporation (NASDAQ: RPAY) (“REPAY”), a leading provider of vertically-integrated payment solutions, today announced it has completed the previously announced acquisition of BillingTree for a total purchase of approximately $503 million, consisting of approximately $275 million in cash from REPAY’s balance sheet at closing and approximately 10 million shares of newly issued REPAY Class A common stock to the seller, an affiliate of Parthenon Capital, representing approximately 10% of the voting power of REPAY’s outstanding shares of common stock.
“We are thrilled to announce the completion of the BillingTree acquisition, our largest to date, and look forward to expanding our position in Healthcare, Credit Unions, and Accounts Receivable Management with the help of BillingTree’s team and strong platform capabilities,” said John Morris, CEO of REPAY.
BillingTree, founded in 2003 and headquartered in Scottsdale, AZ, is a leading provider of omni-channel, integrated payments solutions to the Healthcare, Credit Union, Accounts Receivable Management (ARM), and Energy industries. Through its technology-enabled suite of products and services, including a variety of payment channels and reporting capabilities, BillingTree helps organizations get paid faster and more efficiently.
Source: Company Press Release