Private Equity Firm Lovell Minnick Partners to Acquire Fintech Firm Merchant Industry

Merchant Industry, LLC (“MI”, or “Company”) a fintech company operating successfully within the merchant acquiring landscape, today announced a majority acquisition by funds managed by Lovell Minnick Partners (“LMP”), a private equity firm focused on investments in financial services, business services, and financial technology companies. The MI founders will maintain a substantial minority equity stake in the go forward business, while the Company will be managed by a new leadership team, beginning with the appointment of industry veteran Vaden Landers as Chief Executive Officer upon closing.

Founded in 2007 with offices in Plantation, Florida and Long Island City, New York, Merchant Industry is a leading provider of payment acceptance solutions to small and mid-sized businesses across the U.S. With a customer base of more than 15,000 merchants, a network of nearly 500 channel partners, boasting a robust suite of partner tools and best-in-class products and services that serve to facilitate payment acceptance at the point-of-sale, whether in-person or online, MI is well positioned to expand its reach and capabilities under Vaden’s leadership alongside the strategic support and capital from LMP.

Read more at Business Wire