American private equity firm Thoma Bravo has closed the takeover of ABC Financial Services, a software and payment processor for the health and fitness industry, for an undisclosed sum.
Arkansas-based ABC Financial currently services over 6,700 health clubs across the US, Canada, Puerto Rico, and Europe. The business offers payment processing solutions and advanced health club management tools, including club management software DataTrak.
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Thoma Bravo will work with ABC Financial management to expand its global footprint and its offerings.
Thoma Bravo managing partner Scott Crabill said: “We admire what the ABC Financial team has already achieved, and are looking forward to working with Paul and the company’s executive management to move the company into its next phase of growth.
“Already a leader within its market, we’re confident that our partnership will help extend and expand this already exceptional business.”
The deal was funded by Jefferies Finance, Macquarie Capital and Antares Capital.
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By GlobalDataABC Financial president and CEO Paul Schaller said: “As we focus on building our global presence and expanding deeper into the growing health and wellness markets, Thoma Bravo is the perfect strategic partner to help us enter the next stage as a company.”
