TA associates invests in Czech vehicle payment company, W.A.G payment solutions
TA Associates, a leading global growth private equity firm, has announced that it has completed a minority investment in W.A.G. payment solutions, a.s. (“Eurowag”), a leading, high growth provider of payment solutions for freight and passenger carriers across Europe and Turkey. Financial terms of the transaction were not disclosed.
“With consistent and attractive organic growth, Eurowag offers a compelling investment opportunity for TA,” said J. Morgan Seigler, a Managing Director at TA Associates who will join the Eurowag Board of Directors. “Eurowag has continued to strengthen its market position with rapid growth across Central and Eastern Europe and new entry into selected Western European markets. With increasing scale, a large and well diversified customer base, a transactional business model that affords protection from fuel price volatility, and a strong technology platform, we believe there are numerous opportunities for Eurowag’s continued business development.”
“We see a number of attractive avenues for growth, including continued expansion in our core markets, the penetration of new geographies, the launch of new products and the potential execution of value creative acquisitions,“ said Martin Vohánka, Founder and CEO, W.A.G. payment solutions. “We chose TA Associates because we wanted a partner with the experience and resources to help us realize these goals. We welcome this close collaboration with TA as we begin a new chapter in the evolution of Eurowag.”
“We are delighted to complete this investment in Eurowag,” said Ajit Nedungadi, a Managing Director at TA Associates who will also join the Eurowag Board of Directors. “The company has enjoyed outstanding performance under Martin’s inspired leadership and in our opinion, this is a fantastic entrepreneurial success story. We are very excited to partner with the management team and look forward to helping them continue expanding the business.”