Oct 18, 2022

CHICAGO – July 19, 2022 – H.I.G. Growth Partners (“H.I.G.”), the dedicated growth capital investment affiliate of H.I.G. Capital, is pleased to announce the sale of its portfolio company, Fidelity Payment Services (“Fidelity” or the “Company”), a provider of fully-integrated omni-channel payment processing technology, to PSG. coinvested in the transaction and will continue as a minority shareholder. Fidelity Payment Services’ differentiated payments system and white glove support is powered by its proprietary technology platform and payment gateway, Cardknox. The cloud-based platform enables merchants to accept virtually any payment type – credit and debt, EMV chip card, ACH, mobile wallet and others – across multiple channels, including in-person, online, mobile and unattended payment terminals. Fidelity’s solution enables a frictionless and secure payments experience for both merchants and customers, provides merchants with the visibility and insights they need across channels, and reduces costs using the Company’s proprietary interchange optimization capabilities. David Ilowitz, Fidelity’s CEO, commented, “We really appreciated H.I.G.’s partnership with Fidelity over the last five years. The H.I.G. team added significant value to both our business and leadership team, including supporting strategic investments across our business. We are thrilled to see H.I.G. remain as an investor, which speaks to the many opportunities we see in our future. The Fidelity team is excited about our next phase of growth.” Through partnership with the H.I.G. team, Fidelity undertook numerous strategic initiatives and investments. As a result, the Company more than doubled both its annual processing volume to over $15 billion and customer base to over 22,000 merchants across a variety of industries—grocery, charitable organizations, healthcare, education, amusement / entertainment, restaurants, travel, retail, among others—by partnering with Independent Software Vendors (“ISVs”) and Agents with its Cardknox technology platform. The Cardknox platform operates on both a traditional referral and Payment Facilitation (“PayFac”) model and allows ISVs and merchants the flexibility and control to customize their specific payments acceptance requirements. “We are proud to have been partners to David and the entire Fidelity team in scaling the business,” said Anish Sheth, Principal at H.I.G. Growth Partners. “We’re grateful for the opportunity to play a role in Fidelity’s evolution and continued growth as a leader in omni-channel payments technology. Given the tremendous potential we see ahead, we’re excited to continue our partnership with Fidelity alongside PSG.” William Blair acted as financial advisor to Fidelity and Paul Hastings LLP acted as legal counsel to H.I.G. in connection with the transaction. About Fidelity Payment Services Fidelity Payment Services is one of the largest electronic payment providers in North America. Gradually expanding its products and services to stay ahead of ever-changing technology and trends, Fidelity Payment Services offers powerful payment processing tools to support business owners across all channels – in store, online and mobile. Its proprietary and purpose-built platform, Cardknox, is a best-in-class payment technology solution with true omni-channel payment capabilities that streamline and simplify payment processing and lower costs. Founded in 1996, Fidelity Payment Services has transformed its offerings, while maintaining fast, reliable and friendly service. The Company is headquartered in Brooklyn, NY. To learn more, visit www.fidelitypayment.com . About H.I.G. Growth Partners H.I.G. Growth Partners is the dedicated growth capital investment affiliate of H.I.G. Capital, a leading global alternative investment firm with $50 billion of equity capital under management. * H.I.G. Growth seeks to make both majority and minority investments in strong, growth-oriented businesses located throughout North America, Europe and Latin America. Growth Partners considers investments across all industries but focuses on certain high-growth sectors where it has extensive in-house expertise such as technology, healthcare, internet and media, consumer products and technology-enabled financial and business services. Growth strives to work closely with its management teams to serve as an experienced resource, providing broad-based strategic, operational, recruiting, and financial management services from a vast in-house team and a substantial network of third-party relationships. For more information, please refer to the H.I.G. website at www.HIGgrowth.com . * Based on total capital commitments managed by H.I.G. Capital and affiliates.