Corsair Buys Majority Stake in Aurora Payments

Private equity firm Corsair has acquired a majority stake in Aurora Payments, a payments solution provider for small- to medium-sized businesses (SMBs), according to a Tuesday (Jan. 4) press release.

Corsair said in the release that the acquisition builds on its tradition of investing in other payment companies, including REPAY, TreviPay and Currencies Direct.

Founded in 2005, Aurora’s offering provides a range of products, services and support, including point-of-sale (POS) equipment, transaction processing and the ability to transfer funds between banks and merchants, the release stated.

“Corsair will leverage its deep payments expertise to support the company as it seeks to accelerate organic growth, enhance product and technology offerings, and continue building on a history of successful acquisitions,” the firm said in the release.

Aurora CEO Brian Goudie, who will remain in his role, said in the release: “We’re thrilled to enter this next chapter with a trusted, long-term and growth-oriented partner like Corsair. With Corsair’s proven sector expertise, significant resources and relationship-driven approach, we are confident that we will be able to accelerate the growth of our business, further enhance our solutions and go-to-market strategy and support more clients with efficient and effective payment and technology solutions.”

Added Corsair Partner Jeremy Schein in the release: “Aurora has a clear path to value creation through organic and inorganic growth opportunities, entrance into higher-growth sales channels, and investments in new or enhanced products and merchant services.”

The acquisition comes weeks after Corsair announced that TreviPay had concluded a global receivables securitization and the sale of a non-core business unit.

Read more: TreviPay Completes Sale of Multi-Service Fuel Card Business Unit

In completing its first-ever global receivables securitization, TreviPay replaced $175 million of on-balance sheet asset-backed loans (ABL) with a $230 million off-balance sheet (OBL) securitization. TreviPay also closed the sale of its Multi Service Fuel Card business unit to Shell Oil Company.