Waud Capital Partners Names Rueff Operating Partner In New Platform Push

Jan 25 2017 | 10:01pm ET

Waud Capital Partners has named payments industry veteran Andrew Rueff as an operating partner as the private equity company expands its focus on the fintech sector.

Rueff’s appointment is effective immediately, the company said in a statement. He will work with the company’s business and technology services investment team and pursue new platform investments in payments and financial technology, an initiative to which Waud Capital has initially committed at least $100 million of equity capital.

Rueff brings more than 20 years of experience to his new role. In 2000, he was one of the original founders and architects of the recapitalization of TransFirst Holdings, a private equity-backed U.S. merchant solutions provider acquired by TSYS in January 2016 for $2.35 billion.

From 2000-2014, he was responsible for the TransFirst's strategy and corporate development, where he completed more than 25 acquisitions that helped grow net revenue from less than $20 million to more than $250 million. Beforehand, he was a vice president of mergers and acquisitions for Nova, an Atlanta-based transaction processing company. 

“In partnering with Andrew, Waud Capital underscores its commitment to finding and partnering with the best CEOs and senior executives in our focus industries,” said Justin DuPere, principal at Waud Capital, in the statement. “We have identified payments as one of the top business and technology services sectors to build and scale a new platform, and we are thrilled to be partnering with a world class executive like Andrew with whom we plan to create significant value.”

Founded in 1993 and based in Chicago, Waud Capital Partners acquires or creates platforms in the U.S. lower middle market through control-oriented growth equity investments, industry consolidation, buyouts or recapitalizations. The firm targets services businesses in large, growing, fragmented markets in healthcare services and business and technology services. Currently investing from its $1.056 billion Waud Capital Partners IV fund, which closed in February 2016, the firm has approximately $2.1 billion in AUM and has successfully completed more than 195 investments since inception. 

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