Private equity firm Genstar has been planning on acquiring a significant stake in AffiniPay , a US-based payment service provider, in a deal possibly valuing the latter at USD 3 billion. At the time of the announcement, Genstar was in talks to acquire a substantial stake in AffiniPay, with the possible deal being set to value the payment processor at approximately USD 3 billion including debt, as detailed by Reuters.

Sources mention that a deal is projected to be announced by the companies in the upcoming period if the discussions have a positive outcome. In addition, AffiniPay’s current owner, TA Associates, is set to continue to have a stake in the firm, planning to jointly control the company with Genstar as part of the deal. Moreover, TA Associates acquired AffiniPay in 2020 for an undisclosed amount from investment company Great Hill Partners. At the time of the announcement, Genstar officials declined to comment on the matter, while TA Associates and AffiniPay did not respond to a request for a statement.

AfinniPay’s solutions and capabilities With a commitment to enabling professionals to efficiently conduct their work, AffiniPay supports customers receive optimised outcomes without adding more assignments. The company focuses on delivering practice management software, integrated payments, and Embedded Fintech customised to meet the needs of lawyers, accountants, designers, and associations, among others. In a bid to maintain the security of data and its partners, AffiniPay applies end-to-end encryption, tokenisation, and strict safety policies.

Some of the company’s products include LawPay, a solution that allows lawyers to get paid more effectively, CPACharge, a service for online payments and reporting designed for accountants, ClientPay, developed to support architects and interior designers, and AffiniPay for Associations which simplifies operations for associations and nonprofit organisations. Previous news from AffiniPay Shortly before the current announcement, more specifically in April 2024, AffiniPay expanded its services LawPay and CPACharge into Puerto Rico, building on its strong presence in the US and Canada. The news highlighted the firm’s efforts to increase and solidify its market position serving legal professionals and capitalising on a growth market modernising the payment experience.

The move was set to allow professionals located in Puerto Rico to leverage AffiniPay’s payment solutions and improve their capabilities in managing transactions. .