Private Equity

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Vortiv acquires 75% stake held by CX Partners in ATM services firm TSI India for $2.98 M

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Melbourne-based, Australia Stock Exchange-listed Vortiv Ltd has acquired the 75% stake in Transaction Solutions International (India) Pvt Ltd (TSI India) held by PE firm CX Partners for AUD 4.1 million (USD 2.98 million). L&L Partners Law Offices advised Vortiv on the deal. TSI India is an ATM services company with over 16,000 ATMs. Vortiv has held a stake in TSI since 2005. Post the latest deal, Vortiv holds a 90% stake in TSI, with the key management of the firm owning the rest 10% stake.

From the Venture Intelligence PE-VC Deal Database: In Nov-12, TSI India had attracted $22-M from CX Partners. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)