Great Hill Partners

BillMatrix Corporation

• CEO: Scott Walker
• www.billmatrix.com

Scott Walker had spent years building his business, and believed his company, BillMatrix, was poised for rapid expansion. His early stage investors, however, wanted liquidity. Moreover, Scott did not want to burden his growth prospects with a leveraged balance sheet in a typical private equity leveraged recapitalization. GHP had initially met Scott and his team in 2002 as part of GHP's research in the transaction processing sector. Due in large part to our market knowledge and our ongoing relationship, GHP shared Scott Walker's vision, and was able to close a transaction in under thirty days that provided liquidity to the original investors. Importantly, GHP was willing to complete the deal on an all equity basis, allowing the company to focus solely on growth. Scott Walker commented, "I was very impressed with GHP's sector knowledge and perseverance. Not many private equity firms follow a company for years. As a result they were able to close a deal in less than 1 month when the opportunity arose." When it came time to sell the business, GHP introduced one of its relationship bankers to the process, which resulted in the sale of the business to Fiserv, Inc. for over $350 million.