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FT Partners Advises Direct Connect on its Majority Recapitalization Transaction

FT Partners Advises Direct Connect on its Majority Recapitalization Transaction

Overview of Transaction

  • Direct Connect announced the completion of its majority recapitalization completed by The Beekman Group ("Beekman") and Goldman Sachs ("Goldman")
  • Beekman partnered with Direct Connect's President, who will continue to lead the Company and maintain a significant ownership interest going forward
  • Goldman provided a majority of the debt financing
  • Direct Connect is a leading provider of credit and debit card processing services
  • Beekman is a New York City-based private equity firm focused on lower middle-market opportunities

Significance of Transaction

  • Positions Direct Connect to pursue additional growth opportunities and further scale the business by leveraging Beekman's experience in building middle-market companies
  • Beekman gains a partnership with a leading merchant acquirer

FT Partners' Role

  • FT Partners served as exclusive strategic and financial advisor to Direct Connect
  • Transaction highlights FT Partners' deep knowledge and breadth of relationships in the payments industry
  • Underscores FT Partners' continued dominance in the payment processing and merchant acquiring space