Audax Private Debt Provides Financing to Support the Acquisition of i3 Verticals’ Merchant of Record Payments Business by Payroc WorldAccess

NEW YORK, September 20, 2024 - Audax Private Debt announced that, as Administrative Agent and Lead Arranger, it provided capital via an incremental second lien term loan to support the acquisition of i3 Verticals’ merchant of record payments business by Payroc WorldAccess LLC (“Payroc”), a Parthenon Capital portfolio company.

About Payroc
Payroc WorldAccess, LLC is a high-growth merchant acquirer, processor, and payment integrations powerhouse that offers leading sales enablement and payment processing technology on a global scale, delivering proprietary, innovative, and full-service merchant acquiring solutions. For more information, visit payroc.com.

About i3 Verticals
The Company delivers seamless integrated software and services to customers in strategic vertical markets. Building on its sophisticated and diverse platform of software and services solutions, the Company creates and acquires software products to serve the specific needs of public and private organizations in its strategic verticals, including its Public Sector, Education and Healthcare verticals. For more information, visit www.i3verticals.com.

Based in New York, Audax Private Debt is a leading debt capital partner for North American middle market companies. Since its inception in 2000, the firm has invested more than $38 billion in support of over 280 private equity sponsors. Audax Private Debt works collaboratively to build tailored financing solutions for its clients through a comprehensive range of offerings that includes first lien, stretch senior, unitranche, second lien, and subordinated debt, as well as equity co-investments. For more information, please visit www.audaxprivatedebt.com or follow us on LinkedIn.