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FT Partners Advises REPAY on its $663,000,000 Merger with Thunder Bridge Acquisition

Overview of Transaction

  • On January 22, 2019, REPAY, together with its parent company Hawk Parent Holdings, announced it has entered into a definitive merger agreement with Thunder Bridge Acquisition Ltd. (NASDAQ: TBRG), a special purpose acquisition company (“SPAC”)
  • Under the terms of the agreement, Thunder Bridge will acquire REPAY, and the combined company will continue as a publicly-listed company with an implied enterprise value of approximately $663 million
  • REPAY’s management team will continue to lead the Company and its existing majority equity holder, Corsair Capital is expected to remain the Company’s largest stockholder
  • Headquartered in Atlanta, GA, REPAY is a leading provider of vertically-integrated payment solutions
  • REPAY’s proprietary, integrated payment technology platform reduces the complexity of electronic payments for merchants, while enhancing the overall experience for consumers
  • Thunder Bridge is a blank check company formed for the purpose of effecting a merger, or similar business combination with one or more businesses
  • In June 2018, Thunder Bridge completed a $258 million IPO

Significance of Transaction

  • As a publicly-listed company, REPAY will have access to capital to further support its acquisition strategy and invest in technology, while continuing to develop software integration partners

FT Partners' Role

  • FT Partners served as sole strategic and financial advisor to REPAY
  • This transaction underscores FT Partners’ deep expertise in the Payments space and highlights our strong track record in consistently generating great outcomes for our clients and their shareholders