Payroc Subsidiary Acquires Atlantic Merchant Services to Complement Growth Strategy


Payroc WorldAccess has announced the acquisition of Atlantic Merchant Services by one of its subsidiaries.

The acquisition complements the growth strategy of Payroc and adds to the capabilities of Atlantic Merchant Services, a provider of merchant processing solutions for businesses and organizations in the mid-Atlantic region, the companies said in a Wednesday (May 10) press release.

“Atlantic Merchant’s referral partners and merchants will benefit from Payroc’s differentiating payment technology, in-house processing capabilities and experienced support team, solidifying their already strong relationships,” Payroc CEO James Oberman said in the release.

Payroc’s growth strategy will be complemented by Atlantic Merchant’s sales partners who average over 15 years of card and payment industry experience and cover North Carolina, South Carolina, Virginia, Maryland, West Virginia, Tennessee, Michigan and Texas, according to the release.

In addition, Atlantic Merchant will benefit from Payroc’s technologies, access and international reach, allowing it to compete against a broader range of payments companies, Atlantic Merchant Co-founders Jerry Savage and Bill Baker said in the release.

“Atlantic Merchant Services has a proven track record of providing valuable, face-to-face service to all our customers,” Savage and Baker said. “We are excited to announce that this new relationship with Payroc will allow us to expand the opportunities we can provide our merchants and community bank partners.”

Payroc Executive Vice President of Mergers and Acquisitions Nick Oberman told PYMNTS in July that Payroc has a “full speed ahead” mindset and has no intention of backing off its M&A crusade.

The company had acquired payments platform provider Worldnet three months earlier, in April 2022.

With a nod to his CEO — and father — Jim Oberman, whose focus is unrelenting when it comes to growth, Nick Oberman said at the time that the company and its partner, Parthenon Capital, are exploring acquisitions that will help it become the best company it can without losing the “family-style value” that’s always been a part of the business.

“What’s driving each and every one of our acquisitions has been carefully identifying that sales distribution that would quickly benefit from Payroc’s technology and product, putting those sales channels in a stronger and more competitive position,” Nick Oberman said.

For all PYMNTS B2B coverage, subscribe to the daily B2B Newsletter.