TransFirst, which provides electronic payment processing to small and medium-sized businesses, withdrew its plans for an initial public offering on Wednesday.
TransFirst originally filed for an IPO in late July that could have raised $200 million or more. The company, which had been in a dual track process, announced that it would be acquired by Vista Equity for $1.5 billion in mid-October, a high point of market volatility.
Based in Hauppauge, NY and founded in 2007, TransFirst had booked $1.1 billion in sales for the 12 months ended June 30, 2014. The company had not selected a ticker nor an exchange. BofA Merrill Lynch, Goldman Sachs, J.P. Morgan and Deutsche Bank were listed as joint bookrunners on the deal.
