Priority Technology Holdings, Inc. announced the successful acquisition of certain assets of Boom Commerce and the closing of a $50 million financing facility.
The acquisition includes revenue agreements and customer relationships of Boom Commerce, a reseller partner of Priority.
The company also secured a $50 million delayed draw term loan facility to finance eligible residual receivables and support expansion into alternative financing solutions.
Acquisition Details
Priority acquired revenue agreements and customer relationships of Boom Commerce, expecting an incremental revenue of approximately $5 million in 2025.
Financial Impact
Adjusted EBITDA benefit of almost $6 million is anticipated due to a reduction in cost of sales from lower third-party residuals.
Financing Facility
Priority secured a $50 million delayed draw term loan facility to finance eligible residual and loan receivables for continued expansion.
- The acquisition of Boom Commerce's assets is expected to boost Priority's revenue by $5 million in 2025 and improve Adjusted EBITDA by almost $6 million.
- The secured $50 million financing facility will provide additional support for expanding into alternative financing solutions, enhancing growth opportunities.
Priority Technology Holdings, Inc.'s strategic asset acquisition and financing facility securing demonstrate the company's commitment to growth and innovation in the payments and banking solutions industry, with a focus on revenue expansion and operational efficiency.