Troutman Pepper client Payroc WorldAccess, LLC, (Payroc), a global payments leader, recently announced the acquisition of Atlantic Merchant Services, LLC, (Atlantic Merchant), a full-service merchant processing company based in Raleigh, North Carolina by one of Payroc’s subsidiaries. Payroc is backed by private equity firm Parthenon Capital who assisted Payroc in completing this acquisition. Read a company press release about the transaction.
Payroc is a high-growth merchant acquirer, processor, and payment integrations powerhouse processing more than $80 billion in annual transaction volume in over 45+ markets, for more than 151,000 merchants. Atlantic Merchant and its sales partners work with the company’s financial institution referral partners to deliver modern, cost-effective payment technology solutions to merchants that help streamline business operations and improve customer experience and profitability. The new relationship will allow Atlantic Merchant to expand the opportunities it can provide its merchants and community bank partners.
The Troutman Pepper team advising Payroc in the acquisition included Partner Brad Resweber, Counsel Joel Post, and Associate Cody Mathis. The firm has more than 200 attorneys who regularly advise financial services providers, including banks, neobanks, payment processors, card issuers, consumer reporting agencies, and consumer and commercial lenders. Troutman Pepper handles their full spectrum of legal needs and has been nationally recognized for its work in the financial services industry, including by Chambers and Partners, U.S. News – Best Lawyers®, and Law360, among others.
Consistently recognized as a top-tier national practice, Troutman Pepper’s corporate attorneys regularly handle transactions ranging in size from tens of millions of dollars to multibillion dollars. Core areas of service include private equity, mergers and acquisitions (including cross-border transactions and corporate carve-outs), capital markets and corporate finance, corporate governance, and securities laws compliance. The firm also has particular expertise in advising clients on matters involving fund formation and fund management.