Card Industry Professionals Exits as Mercia Celebrates Successful Investment
Deal News | Dec 12, 2024 | Business Cloud
Card Industry Professionals, a Grimsby-based card payment solutions provider, has been acquired by Shift4, a global leader in payments technology. This acquisition marks a successful exit for Mercia Ventures, achieving a 2x return on its investment made in 2022 through the Northern Powerhouse and Midlands Engine Investment Funds. Founded in 2017 by Ciaran Savage, the company has grown to employ 20 people and services numerous SMEs with card terminals and payment solutions. The acquisition by Shift4 is expected to enhance its service offerings and expand its product range. Debbie Sorby from the British Business Bank highlights the success of regional funds in supporting business growth and job creation.
Sectors
- Financial Technology (FinTech)
- Investment and Venture Capital
Geography
- United Kingdom – Card Industry Professionals is based in Grimsby, UK, and the mention of the Northern Powerhouse and Midlands Engine funds indicates a focus on this region.
- United States – Shift4, the acquiring company, is based in the United States and represents its global operations.
Industry
- Financial Technology (FinTech) – The article centers around Card Industry Professionals, which provides card payment solutions and is part of the FinTech industry due to its focus on payment technologies.
- Investment and Venture Capital – Mercia Ventures' investment and subsequent exit from Card Industry Professionals highlights its role in the Venture Capital and Investment industry.
Financials
- 2x – Return on investment achieved by Mercia Ventures from the acquisition.
- 60m – The monthly transaction volume processed by Card Industry Professionals.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Card Industry Professionals | Target | Company | A Grimsby-based card payment solutions provider acquired by Shift4. |
| Shift4 | Buyer | Company | A global leader in payments and commerce-enabling technology based in the United States. |
| Mercia Ventures | Vendor | Company | An investment firm that backed Card Industry Professionals and achieved a successful exit. |
| Ciaran Savage | Founder/Managing Director | Person | The founder and managing director of Card Industry Professionals. |
| British Business Bank | Other | Government | Played a role through the Northern Powerhouse Investment Fund and Midlands Engine Investment Fund. |