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Retail Merchant Services acquired by TCV to bring innovation to merchants

Wednesday 1 March 2017 | 02:38 PM CET

Retail Merchant Services (RMS), a payments services company, has been acquired by TCV, a provider of capital to private and public enterprises in the tech industry, to bring innovation to merchants.

RMS’s shareholders and the management team reinvested alongside TCV. The investment in RMS comes from TCV’s USD 2.5 billion growth fund.

According to the UK government’s Department for Business, Energy and Industrial Strategy, there are over 1.2 million businesses in the UK with less than 50 employees, the majority of which require some form of payments solution.

TCV was advised in this transaction by Arma Partners (exclusive financial advisor) and Weil, Gotshal & Manges (legal). RMS was advised by Iain Stuart Robson (non-executive director at RMS), PwC (exclusive financial advisor), and Wilkin Chapman LLP (legal).

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