GTCR's Worldpay Acquisition: A Game-Changing Buyout Deal
Chicago-based private equity firm GTCR has made its largest-ever deal with an $18.5 billion buyout of payments processor Worldpay. While the deal represents a larger version of what GTCR typically does, the firm is not trying to become the next Blackstone. GTCR's strategy involves matching experienced executives with platforms for organic growth and acquisitions. The deal was financed by several major banks, and GTCR intends to allocate $1.25 billion for future Worldpay dealmaking. GTCR is also interested in commercial insurance brokerages, mortgage technology firms, and payments processing as part of its financial services targets.