Chicago-based lower mid-market investor LaSalle Capital has bought a stake in payment solutions provider Processing.com for an undisclosed amount.
The company operates a proprietary payment processing platform which enables e-commerce businesses to process online payments in various international currencies.
Commenting on the investment, LaSalle partner Nick Christopher, said, “The management team has built a scalable and innovative payments platform with superior service, reliability and security.
“We look forward to working with management to continue the growth of the Company as a leader in the payments industry.” Founded in 2004, LaSalle currently manages assets of some $330m across two funds. The firm closed its second buyout fund on $205m in June 2012, 33 per cent above target.
Fund II currently has eight investments in its portfolio, among which business process outsourcing services provider MetaSource and software engineering solutions provider Avrio Technology Group.
LaSalle typically invests between $5m and $20m in businesses with revenue in the range of $10m to $100m and EBITDA of over $2m.
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