GTCR Completes BankServ Acquisition
Las Vegas, NV, August 25, 2011 — BankServ, a leading provider of SaaS banking and payments systems, announced today that its acquisition by private equity firm GTCR has been formally completed. In a deal originally announced August 16, the acquisition received regulatory clearance last week and was approved by BankServ shareholders, formally closing at 9:10 a.m. Pacific Time yesterday. Completion of the deal marks the first ownership change in the nearly 15-year history of the company.
BankServ joins a portfolio of more than 25 companies under GTCR's management, including fast-growing firms in the financial services and technology, healthcare and information services and technology fields. CEO Dave Kvederis expressed enthusiasm about the company’s new relationship with GTCR and to the opportunities it presents.
"Our goal at BankServ is continued growth, and GTCR has an outstanding track record of acquiring companies poised for expansion, and supporting that growth. I am thrilled about the opportunity to work with an ownership group that can help us realize our goals of elevating BankServ to the next level," Kvederis said. "As the newest member of the GTCR portfolio, I believe we are truly in elite company."