Fortis Payment Systems gets investment from private equity firm Lovell Minnick
Private equity firm Lovell Minnick Partners said it has completed a significant growth investment in Fortis Payment Systems, which will use the funding to expand its operations.
Fortis, based in Novi, Michigan, provides payment processing and other related technology to developers and businesses across North America.
"We're excited to leverage Lovell Minnick's strong track record of scaling technology businesses," Jimmy Nafso, CEO of Fortis, said in a company release from Lovell Minnick. "With Lovell Minnick's support we'll be able to accelerate Fortis's expansion into additional markets and continue innovating best-in-class payments solutions that meet the evolving needs of our customers."
Trevor Rich and Greg Cohen from Lovell Minnick will join the Fortis board of directors. Terms of the investment were not disclosed.