CA-based Applied Merchant Systems (AMS) acquired a strategic ISO with over 10,000 merchant accounts contributing over $2.2 billion in annual processing volume.
To facilitate the deal and future acquisitions AMS has expanded its senior credit facility with Goldman Sachs Specialty Lending Group and Business Development Corporation of America (BDCA).
Following completion of the acquisitions, AMS also named Chuck Burtzloff, Chairman of AMS, would take an active role in the company’s growth strategy. Mr. Burtzloff was the Founder and CEO of Cardservice International (now Ignite Payments), which was acquired by First Data.
AMS is evaluating other sources of capital to augment its financings with Goldman Sachs and BDCA to pursue all its strategic objectives.
AMS delivers its credit and debit card-based payment processing solutions to its merchants who operate either in a physical business environment, over the Internet, or with mobile/wireless devices.
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