JLL Announces the Sale of NetSpend to Total Systems Services PR Newswire NEW YORK, Feb. 19, 2013 NEW YORK, Feb. 19, 2013 /PRNewswire/ --JLL Partners announced today that NetSpend (an investment made on behalf of JLL Funds IV and V) has been acquired by Total Systems Services ("TSYS") for $16.00 per share in cash. Kevin Hammond, a managing director at JLL, said: "As the largest shareholder of NetSpend, we are very proud of the growth and performance achieved since we partnered with the Company in 2008. Dan Henry and the NetSpend team have grown earnings in excess of 30% per year. We believe that this will be a transformative acquisition for TSYS and are pleased that the JLL investment in NetSpend will provide our limited partners with over 5x their initial invested capital. Depending on the timing of the closing, this transaction will result in an IRR of approximately 34%." About JLL Celebrating its 25^th year, JLL Partners continues its strategy of making control investments to extract fundamentally sound companies from complicated situations. With the prudent use of leverage, JLL is committed to growing its portfolio companies in partnership with management. Investing approximately $4 billion across six funds in 35 separate transactions, JLL has a consistent track record of success spanning a quarter of a century. SOURCE JLL Partners Website: http://www.jllpartners.com Contact: Bill Miles of JLL Partners, Head of Investor Relations, +1-212-210-9386, email@example.com
JLL Announces the Sale of NetSpend to Total Systems Services
Press spacebar to pause and continue. Press esc to stop.