Private equity firm GTCR is set to exit its majority stake in Worldpay through a $24.2bn sale to Global Payments, marking one of the largest fintech transactions of the year and delivering a significant return on investment less than two years after the initial acquisition.

The all-cash-and-stock deal will see GTCR receive 59% of the consideration in cash and the remainder in Global Payments shares, resulting in a 15% post-transaction equity stake in the buyer. Concurrently, fintech group FIS, which retained a minority position in Worldpay, will acquire Global Payments’ issuer solutions business—its high-margin card processing unit—valued at $13.5bn.

GTCR acquired 55% of Worldpay from FIS in 2023, in a deal that valued the business at $18.5bn including debt. At the $24.25bn exit valuation, the firm is expected to have doubled its equity in less than 24 months, a notable outcome in today’s competitive private equity environment. As part of the turnaround, GTCR reinstated former Worldpay CEO Charles Drucker, who led the company’s revitalisation following years of stalled growth under FIS ownership.

“This deal highlights the strength of GTCR’s transformation playbook—unlocking value in complex carve-outs and positioning assets for strategic exits,” said a person familiar with the transaction.

Founded in 1989 as a payments arm of UK bank NatWest, Worldpay has changed hands multiple times over the past two decades, including ownership by Advent International and Bain Capital, before being sold to Vantiv and subsequently acquired by FIS in 2019.

The transaction is expected to close in the first half of 2026, pending regulatory clearance. Wells Fargo advised Worldpay, while Morgan Stanley acted for GTCR.

Source: Financial Times