Private equity firm Advent International has acquired a majority stake in Clearent, a Clayton-based payments processing company that’s one of the largest privately held companies in the St. Louis area.
Advent also acquired FieldEdge, a maker of service management software, and will merge the company with Clearent, the firm announced in a release.
Terms of the deal, announced Wednesday, were not disclosed.
Dan Geraty, Clearent’s founder and CEO, said in a release that Advent is “the right partner for us as we look to continue to capitalize on the move toward integrated payments.”
Clearent reported $202 million in 2016 revenue and has more than 400 employees.
Read more: St. Louis Business Journal