Repay to acquire APS Payments for $60m.

Repay, a provider of vertically-integrated payment solutions, agreed to acquire APS Payments for $60m, of which $30m was paid at closing. The remaining $30m will be paid based on APS’ performance for the 12-month periods ending December 2019, June 2020, and December 2020. APS, is an integrated payments provider focused on the B2B vertical. APS goes to market in the B2B vertical through key integrations with leading ERP platforms. “APS fits our M&A strategy of acquiring high growth businesses with attractive margins, a strong existing distribution model, and technology enhancement opportunities – operating in large, fast growing addressable markets. In addition, APS provides us with end market diversification and organic growth opportunities, which we believe will help drive shareholder value. We are thrilled to welcome the APS team into the REPAY family and look forward to working together to grow B2B electronic payments, as businesses continue to implement new payment technology,” John Morris, Repay CEO.