Grimsby’s Card Industry Professionals acquired by US-based tech firm Shift4

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Payments tech firm Card Industry Professionals has been acquired by New York Stock Exchange-listed Shift4 in an undisclosed deal.

The Northern Powerhouse Investment Fund (NPIF)-backed business has become part of Shift4’s global operation which processes $260bn of transactions annually. The deal represents an exit for Mercia Ventures, which backed the firm in 2022 to the tune of £850,000 using NPIF and Midlands Engine Investment Fund money.

Card Industry Professionals was launched in 2017 by young entrepreneur Ciaran Savage, who was joined by his month, Lyn Savage as operations director and John Selby as sales director. The Aylesby-based firm now employs 20 people and has a network of more than 150 sales agents, and processes more than £60m of transactions each month.

Ciaran Savage, founder and managing director, said: “We are excited to be joining the Shift4 family. We are committed to upholding the company values and best-in-class service customers have come to expect from us and are confident that this acquisition will allow us to improve upon those service levels, while offering even more value in the form of new benefits, incentives and product offerings.”

Maurice Disasi of Mercia Ventures added: “We’re delighted to have supported CIP on its growth journey. Ciaran and the team have built a business with first-class customer support and Shift4 now has the benefit of adding a strong and well-respected team here in the UK as part of their global operations. We wish the team continued success.”

Debbie Sorby, senior manager at the British Business Bank, said: “Since receiving funding from the Northern Powerhouse Investment Fund and the Midlands Engine Investment Fund, Card Industry Professionals now provides 20 roles in Grimsby, as well as processing over £60m of transactions each month. This exit is a brilliant example of how our regional funds play a role in the growth journey of businesses, unlocking innovation and supporting job creation and international growth.”

Original artice – https://business-live.co.uk/all-about/yorkshire-humber

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Grimsby’s Card Industry Professionals acquired by US-based tech firm Shift4

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