BRENTWOOD, TN — Comdata Corporation, a wholly owned subsidiary of Ceridian Corporation (NYSE: CEN) and a leader in electronic payment solutions for the transportation, retail, restaurant and hospitality industries providing gift cards and stored value solutions, announced the acquisition of HQ Gift Cards, LLC (“HQ”), a provider of mall gift card program management services. Terms of the transaction were not disclosed.
Headquartered in Culver City, CA, HQ’s core business provides management services for mall, airport and casino gift card programs. The Company currently oversees gift card operations in over 200 malls nationwide. HQ will be integrated into Comdata’s Stored Value Solutions division which is located in Louisville, KY. Comdata serves more than 300 customers with gift card solutions providing services such as card production and management, transaction processing, and loyalty programs.
“We are proud of our achievement in becoming the leading provider of gift card mall programs nationwide,” said Robert Herscu, Chairman of HQ. “Becoming part of the Comdata family allows us to provide management expertise in mall gift card programs, while joining a company that shares the same values of customer service.”
“In closing this deal with Comdata, a leader in the stored value industry, FocalPoint was able to identify the right partner and maximize value for HQ’s shareholders,” commented Nishen Radia, Managing Director of FocalPoint. “Leveraging our knowledge of the payment processing industry, FocalPoint is uniquely qualified to assist entrepreneurs in this evolving area of the financial services sector.”
About FocalPoint
FocalPoint is an independent investment bank, specializing in mergers and acquisitions, private placements (both debt and equity), and financial restructurings. The firm’s primary focus is on middle-market companies with revenues between $10 million and $250 million in a diverse range of industries. In addition to a specialty practice in electronic payment solutions, FocalPoint has areas of focus in telecom and technology, health care, health clubs, equipment rental, consumer goods and business services.
Please contact Nishen Radia at (310) 405-7040 with any questions about this transaction.