QikKids parent TSG sees Advent International acquire majority stake
Transaction Services Group purchased QK Technologies in 2018 and has been supportive of the company’s strategy and development plans since acquisition.
The announcement from Advent brings to an end a period of uncertainty regarding the next majority owner of TSG, and therefore QK Technologies, as US based Calera Capital sought an exit from their investment.
Advent International, founded in 1984, is one of the world’s largest private equity investors with over US$36 billion under management and has substantial experience in the software and payments space.
Calera Capital, a mid sized private equity firm acquired their stake in Transaction Services Group in 2015 and have been instrumental in the Group’s growth since then.
Commenting on the news Scott Loose, Chief Executive Officer of QK Technologies noted “This is a great outcome and we are excited to welcome Advent with their deep experience, international exposure and extensive resources to the Group.”
He went on to add that “We have been investing heavily in the QK platform since acquisition by TSG and are thrilled that TSG and Advent will be supporting us going forward. It is certainly an exciting time for QK, our team and all of our customers.”
Further information in relation to the announcement may be accessed here.