Priority Secures $50m Financing and Acquires Boom Commerce
Priority Technology Holdings has strengthened its market position through a dual strategic move. The company secured a $50 million financing facility while simultaneously acquiring key assets from Boom Commerce. This combination significantly enhances Priority’s capabilities in payments and banking solutions. The US-based firm specializes in helping businesses optimize how they collect, store, lend, and distribute funds.
Strategic Acquisition Brings Leadership and Client Base
The Boom Commerce acquisition includes valuable revenue agreements and established customer relationships. As an existing reseller partner, Boom’s integration creates immediate synergies for Priority. Notably, Boom’s leadership team, including CEO Sabin Burrell and COO John Hynes, will join Priority to drive accelerated growth initiatives. This strategic move is projected to generate approximately $5 million in incremental revenue by 2025. Additionally, the acquisition should deliver nearly $6 million in adjusted EBITDA gains through reduced third-party costs and improved operational efficiency.
Innovative Financing Structure with Värde Partners
Alongside the acquisition, Priority secured a $50 million delayed draw term loan facility through partnership with Värde Partners. This financing arrangement specifically supports eligible residuals and loan receivables, providing exceptional flexibility for Priority’s reseller network. The company emphasized that this securitization-style facility represents a unique innovation within its asset class. This financial structure reinforces Priority’s position at the forefront of payment industry innovation while providing substantial resources for future growth opportunities.
Integrated Commerce Platform Driving Efficiency
Priority’s comprehensive platform functions as an advanced “commerce engine” that integrates multiple financial functions. The system combines merchant services, payables processing, and treasury management capabilities. This integrated approach enables businesses to optimize working capital, improve cash flow management, and significantly reduce operational costs. Furthermore, the platform creates new revenue opportunities for clients through enhanced financial tools and services.
Leadership Vision and Future Growth
CEO Tom Priore emphasized that Boom Commerce represents a seamless addition to Priority’s direct sales channel. The acquisition enhances Priority’s ability to attract enterprise-level clients and drive increased product sales. Priore highlighted how the combined resources and capabilities will accelerate Priority’s mission to deliver innovative payment and banking solutions. The company now possesses strengthened resources to expand its market reach and develop new products that address evolving customer needs in the payments landscape.
