Dunedin buys GPS

The GP drew capital from Dunedin Buyout Fund III, a £300m fund that held a final close in June 2013.

Dunedin acquired a significant stake in the buyout. The total debt and equity investment was £44m.

Company
GPS was founded in 2015 by Tony Kerr and Craig Dewar. The business develops and sells its payment processing technology GPS Apex to financial technology companies including Starling Bank, Revolut, Pockit, Volt Bank, Loot, Stocard, Glint, Osper and Curve. It has operations in London and Newcastle and employs 150 people.

People
Dunedin – Oliver Bevan, Dougal Bennett (partners); Jessica Hardy (investment manager); Andrew Davidson (assistant director).
Global Processing Services – Tony Kerr (co-founder).

Advisers
Equity – PwC (corporate finance); Dickson Minto (legal); Consult Hyperion (IT due diligence); Edgar Dunn (commercial due diligence).
Company – FT Partners (corporate finance).

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• Topics
• Buyouts
• Technology
• UK / Ireland
• Financials
• Dunedin
• United Kingdom
• Fintech