September 18, 2015
Weil, Gotshal & Manges advised Advent International and Bain Capital on a dual track process leading to the IPO of Worldpay, the leading global payments business, in what is expected to be one of the largest London IPOs so far this year.
Worldpay is a global leader in payments processing technology and solutions for a diverse set of merchants across a variety of end-markets, sizes and geographies. On a typical day, it processes approximately 31 million mobile, online and in-store transactions worldwide, offering access to 326 payment methods in 126 transaction currencies across 146 countries, while supporting approximately 400,000 merchants, including large enterprises and domestic corporates and approximately 377,000 small and medium sized businesses.
Philip Jansen, CEO of Worldpay, commented; "Worldpay has been transformed into a global leader in payments since it became an independent company in 2010. This required an enormous investment to ensure Worldpay is at the forefront of a fast changing payments landscape... The IPO is an exciting and logical next step as we seek to continue this momentum. It will enable us to access new capital for growth, augment our global proposition and further enhance our ability to serve customers across the world."
Weil advised longstanding client Advent International and Bain Capital on their original investment in Worldpay in 2010 and on a number of bolt-on acquisitions since then. The team also advised Advent International and Bain Capital on the acquisition of RBS's remaining stake in Worldpay.
The Worldpay IPO follows a particularly busy year for the Weil team who also recently advised Advent International and Bain Capital on the €2.15 billion acquisition of Istituto Centrale delle Banche Popolari Italiane (ICBPI), the payment services provider to Italy's cooperative banks and also on the high profile IPO of one of the UK’s best known brands, DFS, a former Advent International portfolio company.