Transaction accelerates growth of NAB and expands its merchant portfolio
TROY, Mich. and WOODLAND HILLS, Calif., July 11, 2017 – North American Bancard Holdings, LLC (NAB), a multi-faceted and award-winning payment solutions provider, and Total Merchant Services, Inc. (TMS) announced today that NAB has completed its acquisition of TMS. The finalization of the merger makes NAB the 7th largest processor in terms of merchant locations in North America, with total annual processing near $50 billion.
“Today’s milestone signifies an important step in driving strategic priorities forward for NAB, while providing merchants industry-leading payment solutions,” said Marc Gardner, president and CEO of NAB. “During this transformational time in the payments industry, NAB is solidifying its commitment to helping businesses prosper by delivering innovative payment solutions and outstanding customer service.”
In the short term, NAB realizes an immediate increase in its merchant base and revenue through the addition of TMS’ more than $12 billion in credit and debit card transactions processed annually.
TMS gains access to NAB’s industry-leading processing capabilities; its dynamic merchant and sales partner portals; extensive suite of onboarding tools; and additional operational resources.
The combined entity realizes the opportunity to expand product offerings, pursue strategy into high-growth channels and enhance payment capabilities for businesses of all sizes.
“This acquisition enables TMS to accelerate its development of fully integrated and secure payment solutions, continue its commitment to exemplary customer service for merchants and partners, and gain access to NAB’s broad platform of capabilities,” said Ed Freedman, chairman and founder of TMS. “Guided by strategic-thinking and leadership focused on innovation and service, the combined entity is poised for tremendous success in the near future and well beyond.”
Credit Suisse Group, a leading financial services company, served as financial advisors to NAB during the acquisition process.