Pace Payment Systems Sold to i3 Verticals

Client Type: Private Company

We represented Pace Payment Systems, Inc. in its sale to i3 Verticals, Inc. for $52.7 million, plus an earnout payment of up to $20 million based on the achievement of certain metrics during periods following the closing. This transaction marked i3 Verticals’ fourth acquisition this year and deepened its reach within the public sector vertical.

The deal team representing Pace was led by corporate attorneys Kevin Douglas and John Fuller and included corporate attorneys Taylor Wirth, Mark Buente and David Marshburn. Firm attorneys Bob Brewer and Chelsea Harrison advised on intellectual property matters; Todd Ervin counseled on tax issues; Doug Dahl and Noah Black on employee benefit aspects; Felix Dowsley on debt financing matters; and Steve Taylor on insurance matters.

Pace was a private company which markets, distributes and sells payment processing products (including software products) and services, primarily through integrated partnerships in the Public Sector and Education verticals.

i3 Verticals is an NYSE-listed company which delivers seamless integrated payment and software solutions to small- and medium-sized businesses (SMBs) and organizations in strategic vertical markets. Since commencing operations, i3 Verticals has built a broad suite of payment and software solutions that address the specific needs of SMBs and other organizations in its strategic vertical markets.

We represented Pace Payment Systems, Inc. in its sale to i3 Verticals, Inc. for $52.7 million, plus an earnout payment of up to $20 million based on the achievement of certain metrics during periods following the closing. This transaction marked i3 Verticals’ fourth acquisition this year and deepened its reach within the public sector vertical.

The deal team representing Pace was led by corporate attorneys Kevin Douglas and John Fuller and included corporate attorneys Taylor Wirth, Mark Buente and David Marshburn. Firm attorneys Bob Brewer and Chelsea Harrison advised on intellectual property matters; Todd Ervin counseled on tax issues; Doug Dahl and Noah Black on employee benefit aspects; Felix Dowsley on debt financing matters; and Steve Taylor on insurance matters.

Pace was a private company which markets, distributes and sells payment processing products (including software products) and services, primarily through integrated partnerships in the Public Sector and Education verticals.

i3 Verticals is an NYSE-listed company which delivers seamless integrated payment and software solutions to small- and medium-sized businesses (SMBs) and organizations in strategic vertical markets. Since commencing operations, i3 Verticals has built a broad suite of payment and software solutions that address the specific needs of SMBs and other organizations in its strategic vertical markets.