Murray Bolton linked up with one of the world’s biggest private equity investors, Advent International, when it took a majority shareholding in his UK-registered Transaction Services Group (TSG) in a deal announced in June.
Bolton founded Transaction Services in Auckland in 1994 and it became a leading provider of business management software and integrated payments solutions to the health and fitness and childcare sectors in Australasia and the UK – with emerging customer bases in Japan, Europe and the US.
TSG owns Debitsuccess which operates in Australia, New Zealand and US, PaySmart and QK Technologies in Australia, and DFC and Harlands Group in UK. According to the UK Companies House, Bolton owned 50-75% of TSG Holdings (UK), the parent company.
Over the past three years TSG more than doubled its revenue, reaching $NZ110.7 million in 2018 with ebitda of $42.28m, up 32%.
Announcing the partnership with Advent, TSG said “it will allow us to build on this momentum as we invest further in our platform to deliver ever-greater value to our clients. Advent’s distinguished track record in the payments and software space and global presence will be invaluable for TSG as we enter into the next phase of international expansion.”
Advent has invested $US7.6 billion ($NZ11.5b) in nine payments and six software companies around the world over the past 10 years.
Bolton, who owns Bolton Equities, has had a colourful business career since starting out in banking as vice-president of Citigroup in Canada, Mexico and US. He was chief executive of Brierley Investments, Skellerup and Rural Banking Finance Corp.
Bolton took a 40% stake in the Auckland Blues Super rugby franchise but was forced to sell the shares to New Zealand Rugby at a loss after a “relationship breakdown” at the board table. But not before Bolton helped established the Blues’ new base next to the showgrounds in Epsom.
Bolton also has a 67% stake in Corporate Cabs which changed its 400-car fleet from Holdens to Skodas, and bought the 32ha Kamo Wildlife Sanctuary, formerly known as Zion Wildlife Gardens, in 2014. The zoo with lions and tigers has still not re-opened after going into receivership in 2011.
Bolton bought, modernised and moved into the former boutique hotel Mollies – the property in Herne Bay has a CV of $8.6m. It was a major renovation, but he kept the suite that Rachel Hunter used to stay in, and he used one of the rooms for his guitar collection.
Photo: PhotoSport New Zealand
2018: $165 million