GI Partners buys Togetherwork from Aquiline Capital

GI Partners has acquired payment and software developer group Togetherwork from Aquiline Capital Partners for an undisclosed amount.

Middle market lending group Golub Capital provided the debt facility to support the acquisition.

New York-based Togetherwork offers SaaS solutions to businesses for their administration and payment needs. The company was launched by Aquiline to acquire, integrate and scale businesses that build payment management and processing technology.

Through the technology, Togetherwork helps clients to identify market leaders, accelerate growth, increase revenue and become more efficient.

The company is used by a range of industries including fraternal organisations, religious groups, sports leagues, charities and educational institutes, among others.

Togetherwork hopes this new support will help it drive customer satisfaction and expanding its reach to new markets.

Togetherwork CEO Neil Platt said, “Our partnership with Aquiline Capital Partners has successfully allowed us to build out and scale our platform, enabling businesses acquired by Togetherwork to become larger and faster growing than they would have on their own.”

This marks the third investment from GI Partners Fund V, a $2.8bn investment vehicle which closed last year. Earlier in the month, the firm acquired a majority stake in customer engagement and content management company Doxim from Strattam.

Aquiline Capital Partners kicked off the year by leading the $500m investment in to run-off insurance company Armour. The investment came months after Aquiline held the $190m final close for its debut early and growth-stage fund.

Copyright © 2018 FinTech Global

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