Repay Holdings Buys Payix For Up To $115 Mln - Quick Facts

(RTTNews) - Repay Holdings Corp. (RPAY), a leading provider of vertically-integrated payment solutions, announced Monday it has acquired Payix n a cash-free, debt-free basis for up to $115 million, including $95 million paid at closing and up to $20 million may become payable through an earnout, which is contingent on Payix's performance in 2022.

Founded in 2016, Fort Worth, Texas-based Payix is a leading omni-channel payment technology platform providing solutions that facilitate payments, data exchange, and communication to support customer service and collection efforts in loan repayment verticals.

Payix's software supports a wide range of payment options and modalities, and integrates into loan management systems (LMS) and dealer management systems (DMS) by providing a SaaS approach to collections technology.

The acquisition was financed with cash on hand and available revolver capacity. Repay also announced the upsizing of its revolver capacity by $60 million, increasing its existing $125 million Revolving Credit Facility to $185 million.