Payments company Clearent bought by private equity firm

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

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