Repay Holdings is a publicly traded payment processor many resellers and solution providers recognize through its Sage and Acumatica integrations. The company is now in play. Forager Capital Management, an existing Repay investor, has made an unsolicited $4.80 per share cash offer to take the company private. Repay’s board has put a takeover defense in place and is reviewing the offer with outside advisors. Separately, another investor, Veradace Partners, is pushing the board to drop its own pending $372 million acquisition of bill-payment company KUBRA.
Privatization offers a strategic veil. Transitioning a public entity to private ownership typically provides management the latitude to execute restructurings away from public market scrutiny. This mirrors the 2022 move by Vista Equity Partners to take Avalara private. Unlike that board-supported acquisition, however, the current proposal for Repay appears to be an unsolicited and potentially more contentious maneuver.
Integration roadmaps hang in the balance. Repay has over 130 integrations including Microsoft Dynamics 365, Sage 100, Sage 300, Sage X3, Sage Intacct, and Acumatica. Repay is also one of Sage’s named Tech Partner Plus Fintech Partners. If Repay changes hands, the integration roadmap, pricing model, and support contacts your clients depend on could shift. Acumatica is already adding payments in-house through its CoreChain Technologies acquisition, which adds competitive pressure on third-party payment partners.
Background on Repay. Founded in Atlanta in 2006 as M&A Ventures LLC, doing business as REPAY. Private equity firm Corsair Capital took a majority stake in 2016. Repay went public in July 2019 on the NASDAQ under ticker RPAY. Shares closed at $4.11 on April 17, 2026.
