Lovell Minnick Partners, a private equity firm focused on investments in the global financial services industry, including related technology and business services companies, has announced that it has completed a significant growth investment in Fortis Payment Systems, a payments technology and merchant services provider. Financial terms of the private transaction were not disclosed.
Headquartered in Novi, Michigan, Fortis provides payment technology and processing capabilities to developers and businesses throughout North America. The company’s proprietary payments platform, Zeamster, creates integrated commerce experiences for software and ERP providers as they transform the way businesses interact with their customers.
Since its founding in 2010, the company has developed vertical specific solutions and integrated with point of sale software and ERP providers in a number of end markets. Fortis supports hundreds of developers, software providers, and channel partners and provides services to merchants throughout North America.
Lovell Minnick’s Trevor Rich and Greg Cohen will be joining the Fortis board of directors.
Sidley Austin LLP served as legal advisor and the Strawhecker Group served as payments advisor to Lovell Minnick. Butzel Long was counsel to Fortis.