Thompson Street Capital Partners, a St. Louis-based private equity firm, announced it will acquire Kentucky-based payment security company EchoSat Communications in a partnership with its management. Terms of the deal were not disclosed.
Thompson Street said in a news release the acquisition is also joined by Tom Wimsett, founder and managing partner of Wimsett & Company, a Louisville payments consulting firm.
EchoSat develops payments security technology, primarily for the petroleum and convenience store markets.
Thompson Street generally acquires companies with earnings before interest, taxes, depreciation and amortization (EBITDA) in the range of $4 million to $15 million, according to the St. Louis Business Journal.