Merchant Industry (MI), LLC, a provider of payment acceptance solutions to more than 15,000 small and mid-sized businesses across the U.S., announced a majority acquisition by funds managed by Lovell Minnick Partners (LMP). The company’s founders will maintain a significant minority equity stake, while industry veteran Vaden Landers will step in as CEO following the close of the transaction. 

Founded in 2007 with offices in Plantation, Florida and Long Island City, New York, Merchant Industry has built a strong national presence supported by nearly 500 channel partners. Co-founder Leo Vartanov said, “LMP is the right partner for us as we enter this transformational phase where the business matures and scales beyond its current capabilities.” 

LMP, which has raised over $5 billion in committed capital since 1999, will back the company with strategic leadership, infrastructure, and growth capital. Landers emphasized plans to expand distribution and pursue strategic M&A, complementing MI’s organic growth momentum. 

MAPP Advisors acted as exclusive sell-side advisor, with Vedder Price serving as legal counsel to Merchant Industry. Dechert LLP represented Lovell Minnick Partners.