Cashco has been acquired by May River Capital, a Midwest-based private equity firm.
Under the leadership of president Clint Rogers, Cashco has achieved impressive growth over the past several years. Rogers and the entire Cashco leadership team will continue to lead the organisation in their current roles.
Rogers says: ‘May River has significant sector expertise along with deep financial and operational resources, which will allow us to continue to support our customers globally.’
Rahul Deshmukh, May River’s operating executive, will transition to CEO and executive chairman of Cashco. Deshmukh comments: ‘Cashco represents a high-quality business to serve as a growth platform for May River. We are delighted to partner with Clint Rogers and his experienced leadership team to drive growth and innovation in the business. We are committed to significant investment to build out this platform in the coming years, both organically and through M&A activity.’
Phil Ramsbottom, principal at May River Capital adds: ‘Cashco’s leadership has built a tremendous foundation from which we plan to grow through further investments in new products, new markets, and complementary add-ons. We are excited to partner with Rahul, Clint, and the balance of the team to better serve Cashco’s loyal base of global customers.’
