February 2 2010
North American Bancard, a Troy, Michigan-based merchant acquirer, announced today that it has engaged Deutsche Bank Securities as its financial advisor.
North American Bancard is one of the largest and fastest growing, non-bank, independent merchant acquirers in the U.S. As a recognized leader in its industry, North American Bancard is seeking to best position itself to exploit current industry consolidation trends.
"2008 and 2009 have been unique years in the payment processing industry," commented Marc Gardner, founder and CEO of North American Bancard. "Many of our competitors in the industry, both large and small, have experienced unusual stress on their businesses. These factors have created unique strategic growth opportunities for our company.”
Gardner had been approached by a number of large financial firms in 2009, seeking to team with North American Bancard to pursue industry opportunities. In late 2009, Gardner decided to appoint Deutsche Bank Securities, a leading financial advisor.
"North American Bancard has benefited from strong growth in the current environment, atypical of many of our peers," Gardner added.
"We are in a position where financial partners are available and strategic opportunities are evident. We believe that our reputation, industry insight and ability to execute are appreciated by potential financial partners, and we look forward to continuing to build our business."