May 14, 2007 / 3:23 PM / in 10 years

GTCR to sell TransFirst to Welsh, Carson

PHILADELPHIA (Reuters) - Private equity firm GTCR Golder Rauner LLC said on Monday it will sell TransFirst, a payment-services company, to buyout firm Welsh, Carson, Anderson & Stowe for $683 million.

TransFirst processes about $25 billion in sales volume for more stores and financial institutions each year. Originally founded as ACS Merchant Services in 1995, GTCR partnered with TransFirst Chief Executive Thomas Rouse to recapitalize the company in 2000.

The financing for the transaction is being led by Merrill Lynch and Deutsche Bank, which both served as advisers to Welsh, Carson on the deal.

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