GTCR Announces Sale of Worldpay to Global Payments for $24.25 Billion in Conjunction with Transformative Three-Way Transaction

Strategic Insights -

GTCR, a leading private equity firm, announced the signing of a definitive agreement to sell Worldpay, a global leader in merchant acquiring and payments processing, to Global Payments (NYSE: GPN) for $24.25 billion as part of a transformative three-way transaction. The sale marks an important milestone in GTCR's strategic transformation, with the firm partnering with industry-veteran CEO Charles Drucker to acquire a majority stake in Worldpay from FIS in July 2023. Under the terms of the sale agreement, Global Payments will acquire Worldpay from GTCR and FIS for $24.25 billion of cash and stock, while FIS will acquire Global Payments' Issuer Solutions business, at an enterprise value of $13.5 billion.

Key Takeaways:

  • GTCR signed a definitive agreement to sell Worldpay, a global leader in merchant acquiring and payments processing, to Global Payments for $24.25 billion in a transformative three-way transaction.
  • The sale marks an important milestone in GTCR's strategic transformation, with the firm partnering with industry-veteran CEO Charles Drucker to acquire a majority stake in Worldpay from FIS in July 2023.
  • Global Payments will acquire Worldpay from GTCR and FIS for $24.25 billion of cash and stock, while FIS will acquire Global Payments' Issuer Solutions business, at an enterprise value of $13.5 billion.
  • GTCR will receive 59% cash and 41% stock consideration and will continue to support the combined business through a successful integration and future growth.
  • Upon closing, GTCR will own shares representing 15% of Global Payments' outstanding shares.
  • Worldpay expanded its global processing capabilities, launched innovative payment solutions, and enhanced its fraud prevention offerings under CEO Charles Drucker's leadership.
  • The sale of Worldpay is expected to close in the first half of 2026, subject to regulatory approvals and customary closing conditions.
  • GTCR partnered with industry-veteran CEO Charles Drucker to acquire a majority stake in Worldpay from FIS in July 2023, with a thesis of re-accelerating growth, affecting a seamless transition from FIS, and investing in innovative product and modern technology.
  • Collin Roche, GTCR Co-CEO and Managing Director, stated, "Our collaboration with Charles and the team at Worldpay highlights the essence of a Leaders Strategy partnership--combining visionary leadership with a transformational value creation plan while managing the complexities of a corporate carve-out."
  • Charles Drucker, CEO of Worldpay, stated, "This milestone marks a tremendous collective effort from the entire Worldpay team, and we are enthusiastic about the future with Global Payments."

Statistics:

  • $24.25 billion: The sale price of Worldpay to Global Payments in a transformative three-way transaction.
  • 55%: The majority stake in Worldpay acquired by GTCR from FIS in July 2023.
  • $13.5 billion: The enterprise value of Global Payments' Issuer Solutions business to be acquired by FIS.
  • 59%: The cash consideration to be received by GTCR for the sale of Worldpay.
  • 41%: The stock consideration to be received by GTCR for the sale of Worldpay.
  • 15%: The ownership stake in Global Payments to be retained by GTCR upon closing the transaction.
  • 174 countries: The regions where Worldpay processes transactions.
  • 138 currencies: The currencies in which Worldpay processes transactions annually.
  • 55 billion transactions: The number of transactions processed by Worldpay annually.

Sources:

  • GTCR: "GTCR Announces Sale of Worldpay to Global Payments for $24.25 Billion in Conjunction with Transformative Three-Way Transaction"
  • About GTCR: "Founded in 1980, GTCR is a leading private equity firm that pioneered The Leaders Strategy..."
  • About Worldpay: "Worldpay is a leading payments technology and solutions company with unique capabilities to power omni-commerce across the globe."