GTCR Announces Recapitalization of Retriever Payment Systems

Business Wire, July 6, 2004

CHICAGO -- GTCR Golder Rauner, LLC (GTCR), one of the nation's leading private equity firms, today announced it has teamed with Bill Higgins, Joe Natoli, Jim Oberman and other managers to recapitalize Retriever Payment Systems (Retriever). The valuation for the transaction was $250 million. Windward Capital and other investors sold their interests in the company as a result of the transaction. Kirkland & Ellis provided legal counsel to GTCR, while Merrill Lynch Capital and American Capital Strategies provided debt financing for the transaction.

Retriever, based in Houston, Texas, is a rapidly growing merchant acquirer, providing payment processing and other related services to small- and medium-sized merchants. The company offers integrated transaction processing support for all major credit cards, as well as ATM/Debit cards, EBT (government financial support programs), check conversion, specialty cards, gift cards and loyalty cards. During the twelve months ended June 30, 2004, Retriever processed approximately $8.1 billion in transaction volume and ended the period with over 95,000 merchant accounts.

GTCR is partnering with CEO Bill Higgins, EVP Joe Natoli, EVP Jim Oberman and the rest of the senior management team to continue to grow the company going forward. "We are very excited about the opportunity to partner with Bill, Joe, and Jim to recapitalize Retriever. Retriever's high quality services have enabled them to build attractive long-term relationships with some of the leading sales groups in the merchant acquiring industry," said GTCR Senior Principal Collin Roche.

Bill Higgins commented, "We are happy to have attracted a strong partner such as GTCR. Because of Retriever's brand recognition and stellar reputation, we were able to consider many potential suitors. GTCR was by far the most experienced and best partner for Retriever's future growth plans. Together we have a unique opportunity to build on Retriever's significant accomplishments with a partner that is committed to and thoroughly understands the payments processing industry."

About Retriever

Founded in 1986, Retriever is one of the fastest growing U.S. merchant acquirers and transaction processors, providing payment processing and other related services to small- and medium-sized merchants for credit card, debit card and other payment transactions. Retriever focuses on providing its sales groups with unparalleled focus and support through industry-leading service and technologies. The corporate office, located in Houston, Texas, provides full customer service and support for merchants in all 50 states. For more information, visit www.retrieveronline.com

About GTCR Golder Rauner, LLC

Founded in 1980, GTCR Golder Rauner, LLC is a leading private equity investment firm and long-term strategic partner for outstanding management teams. The Chicago-based firm pioneered the investment strategy of identifying and partnering with exceptional executives to build leading companies through a combination of acquisitions and strong internal growth. GTCR currently manages more than $6 billion of equity capital invested in a wide range of companies and industries. GTCR is the leading private equity investor in the transaction processing and payments sector. For more information, visit www.gtcr.com.