COSTA MESA, Calif., Dec. 14, 2007 (PRIME NEWSWIRE) -- Purepay has acquired the stock of CybrCollect, Inc., a leading provider of check collection and payment processing services. Terms of the transaction were not disclosed.
RSM EquiCo Capital Markets initiated the transaction, led the negotiations and acted as exclusive financial advisor to CybrCollect. Ungaretti & Harris served as legal advisors to CybrCollect.
"Working very closely with CybrCollect's executive management team, we deeply analyzed various strategic and financial investors," said Charlene Davidson, senior managing director, RSM EquiCo Capital Markets. "Ultimately, it became clear that the optimal buyer was Purepay. The acquisition contributes mutual benefits, provides real operating synergies and an aligned vision for future growth."
A team of RSM EquiCo Capital Markets professionals contributed to the successful close of this transaction. Davidson and Greg Miller, vice president, led the deal team.
About RSM EquiCo Capital Markets
RSM EquiCo Capital Markets LLC (www.rsmequico.com) is a global provider of investment banking services to private and public companies with annual revenues of up to $1 billion. The firm brings together companies, capital and creativity on a national and international scale to help clients achieve their personal and strategic objectives.
RSM EquiCo Capital Markets is licensed by the SEC and all state securities authorities, and is a member of the FINRA and SIPC. The firm's international headquarters are located in Costa Mesa, Calif. It also has offices in Chicago, Boston, New York and London.
About CybrCollect, Inc.
Founded in 1998 and headquartered in La Crosse, Wis., privately held CybrCollect, Inc. (www.getmychecks.com) consolidates the best practices in the check collection and electronic payment industries. In addition to its core RCK services, the company offers a complete eCheck solution with integrated collections for all returned items. CybrCollect offers its services to over 20,000 customers throughout the United States and endeavors to create the fastest returns for merchants while providing excellence in customer service.
About Purepay
Purepay (www.pure-pay.com) is a Columbus, Ohio-based acquirer and operator of payments companies with a primary focus on automation and transaction processing within the financial services industry. Purepay was formed in early 2007 and is supported by $100 million in capital. Purepay acquires growing companies, extends their existing capabilities, and accelerates organic growth with the intent of operating the companies long term. CybrCollect represents Purepay's third acquisition in 2007.