September 21, 2017
Waud Capital Expands Sphere Payments Platform and Partners with Anovia Payments
Collaboration marks second investment in platform company Sphere Payments LLC
CHICAGO and Irving, Texas September 21, 2017 – – Waud Capital Partners, a leading growth-oriented middle market private equity firm, today announced a strategic partnership with Anovia Payments, an innovative payments solutions provider for small and medium-sized businesses across a range of end-markets.
Anovia Payments will join the Sphere Payments platform, which was recently formed by Waud Capital in partnership with Andrew Rueff, an experienced financial technology executive. The Sphere Payments platform will offer clients end-to-end integrated payments and security software capabilities serving a diverse set of clients ranging from the largest and most complex enterprise customers to small local businesses.
“Anovia Payments has continually been recognized as a high-growth and innovative company in the payments industry,” said Mr. Rueff, Executive Chairman of Sphere Payments. “Kevin Jones and his team are tremendous operators and are well respected in the payments industry. We are now capable of offering clients a comprehensive end-to-end integrated payments solution with industry-leading security and compliance capabilities. This partnership accelerates our multi-pronged growth strategy and helps achieve our vision of becoming a leader in the payments technology ecosystem.”
Founded in 2013 and led by Kevin Jones, Anovia Payments provides a comprehensive suite of payment processing and merchant relationship management solutions including financial reporting and tracking capabilities. The company has operations in the US, Canada, and Australia. The company was recognized by the Electronic Transactions Association as the 2017 ISO of the Year and ranked 82nd on Inc. magazine’s Inc. 5000 list of the fastest-growing private companies in the U.S. in 2017. At closing, Mr. Jones and other key executives of Anovia Payments will maintain leadership positions at the company and will participate in ownership through Sphere Payments.
Added Justin DuPere, Principal at Waud Capital, “The addition of Anovia continues the rapid development of our integrated payments strategy. We are excited to add Kevin and the Anovia management team to the Sphere Payments platform and look forward to working with them to build and grow what is already a powerful platform.”
Matt Clary, Partner at Waud Capital, added, “This transaction exemplifies Waud Capital’s disciplined approach of partnering with experienced industry leaders to develop high growth platform companies. The partnership with Anovia represents a meaningful step in fulfilling our vision to build an industry-leading payments technology provider capitalizing on the increasing demand for secure, compliant payments acceptance that is tightly integrated with business software.”
About Anovia Payments
A new, innovative way forward in payment acceptance, Anovia Payments was founded in 2013 by industry experts determined to make card acceptance reliable, simple, secure, and supported by best in class programs and technology, powered by partnerships, ideas, and work ethic. Anovia’s founding principles are customer-centered: to help client companies expand their businesses, their customer loyalty, and their financial success. Anovia is moving the payments industry forward while exhibiting high ethical standards and successfully meeting industry challenges with demonstrated results. The company is based in Irving, Texas. To learn more about Anovia Payments, visit www.anoviapayments.com.
About Waud Capital Partners
Based in Chicago, Waud Capital Partners is a leading growth-oriented private equity firm with total capital commitments of approximately $2.1 billion since its founding in 1993. Waud Capital partners with exceptional management teams to build market leading companies within two industries: healthcare services and business and technology services. Since its founding, Waud Capital has successfully completed 220 investments, including platform companies and follow-on opportunities.
For additional information on WCP, visit waudcapitalpartners.sg.websolutionsbeta.com.
Business Development Contact:
Phil Olson, Principal – Business Development