Payments company Clearent acquires another dry cleaning software firm

Clearent, a Clayton-based company that makes software to process credit card payments, is acquiring Compass, a Maine-based company that makes software for the dry cleaning industry. It’s the second deal Clearent has made this year for a software company serving that industry, following its January purchase of Utah-based SPOT Business Systems.

Terms of the deal for Compassmax were not disclosed.

Clearent plans to bring Compassmax and SPOT together under the SPOT name, Clearent CEO Dan Geraty said. The companies will operate as part of Clearent’s software holdings unit.

The acquisition adds to a larger flurry of M&A activity around Clearent. The company announced in April that it was being acquired by Advent International, a Boston-based private equity firm, and would be merged with FieldEdge, an Atlanta-based software company.

Founded in 2005, Clearent has more than 400 employees nationwide and reported $200 million in revenue last year.

Read more: St. Louis Business Journal, St. Louis Post-Dispatch

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