Date
Jan 2022
Region
California
We are pleased to announce the sale of our client Applied Payment Systems, LLC to VeriCheck, Inc. The acquisition closed January 6, 2022.
Applied Payment Systems, (dba ACHWorks), located in Gold River, California, is a technology company providing solutions for electronic payments using the ACH network. The Automated Clearinghouse (ACH) is an electronic payment delivery system which processes electronically originated credit and debit transfers for institutions nationwide.
ACH payments are payments that are processed using a customer’s bank account and routing information. ACH is a rapidly growing alternative to processing credit cards and handles billions of payments annually.
The company’s proprietary systems and software provides businesses secure and robust access to the ACH network, either through flexible interface and integration to existing accounting platforms, as a function of software provided by APS’ corporate partners or by way of the most basic stand-alone systems.
Highly intricate programs translate an array of electronically funded transactions into seamless automated payments for its clients. APS’ systems facilitate a full menu of ACH payments applicable to a diverse number of business environments.
The company has been involved in the Automated Clearing House (ACH) Electronic Fund Transfer (EFT) business since 1993. Over the last 9 years, the company has processed over 90 billion in transactions.
The company has created the “Next Generation ACH Software” that fully integrates with existing financial systems, accounting systems, and enterprise platforms while readily reconciling monthly bank statements with internal accounting systems.
Located in Atlanta, Georgia, VeriCheck has been a leader in ACH payment processing for more than 30 years. The company’s proprietary payments processing platform allows a business to accept ACH payments in order to get paid faster with the most secure payment technology available. VeriCheck’s solutions provide clients with off-the-shelf, turnkey or customizable options. VeriCheck is a wholly-owned subsidiary of Commercial Bank of California.
Generational Equity Executive Managing Director of M&A – Western Region, Stephen Crisham, and his team, led by Managing Director Mergers & Acquisitions, James Hermann, with support by Vice President - Western Region, Bo Zhao, closed the transaction. Executive Managing Director Tom Braun established the initial relationship with ACHWorks.
“This transaction went very smoothly, from start to close, due to the professional manner in which the representatives for both seller and buyer worked and interacted,” said Hermann.
If you would like to explore other transactions our associates have supported in this industry, visit our dedicated Business & Financial Services M&A Deals page.
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