Advent International

Global Highlights 2013/14

Business and Financial Services

Vantiv (formerly Fifth Third Processing Solutions) is one of the largest providers of payment processing and technology solutions for businesses worldwide. The company supports more than 400,000 merchant and financial institution locations and 12,000 ATMs across eight countries and 46 states in the US.

Prior to our investment in June 2009, the business was a large, but non-core division of Fifth Third Bank, with a shared IT platform and reliance on the bank for both referrals and key management functions. Our goal was to carve out the division and fulfill its potential to become an independent market leader, able to grow faster than the market.

Over two years, we worked with the CEO to build a new management team, achieved the highly complex separation of shared technology and diversified the merchant customer referral channels. Looking for strategic growth opportunities, we completed and integrated four acquisitions that significantly extended the company's scope and capabilities: National Processing Company (NPC), TNB Card Services, Springbok Services and Litle. In 2011, rebranded as Vantiv, the company moved to independent headquarters preparing for its IPO. Vantiv (VNTV) became a publicly-traded company listed on the NYSE in March 2012. Since then, Vantiv has continued to substantially outperform its peers in share price and is now the second largest merchant acquirer in the world.

We sold our remaining shares in Vantiv through a secondary offering in March 2014.

See our Business and Financial Services investments