TKO Miller Advises Liturgical Publications, Inc. (LPi) on its Acquisition of ParishPay
Liturgical Publications, Inc. (LPi), a Milwaukee-based Catholic stewardship and communications company, acquired YapStone Corporation’s ParishPay e-giving business. TKO Miller, LLC advised LPi on this acquisition.
Historically, LPi printed weekly church bulletins for churches. Over the last 8 years, LPi’s business model expanded to provide e-giving and parishioner engagement solutions. Having previously worked with TKO Miller on several business expansion and diversification opportunities, LPi again turned to TKO Miller for assistance in valuing ParishPay, analyzing the business, providing due diligence, and ultimately structuring, negotiating and closing the transaction.
“As a leader in e-giving and parishioner engagement for Catholic Churches, LPi was a logical candidate to acquire the ParishPay merchant portfolio,” said Joe Froehlich, Managing Director of TKO Miller. “Because the software platform and employee team were not included in the deal, the transaction details became very complex. In the end, a transaction was structured to ensure LPi could successfully transition the merchant portfolio smoothly supported by strong cooperation from the seller.”
“Unlike transitioning to a new provider, we’re confident this will be a seamless transition process for customers,” said Joe Luedtke, LPi President. “The upgrade to LPi’s WeShare will be fully automated and require no action by either the parish admin or donor.”
About LPi
Liturgical Publications is a stewardship and communications company providing a single source of digital, print and service solutions for the Catholic Church. As a trusted partner to over 6,000 parishes, LPi offers parishes digital solutions, print solutions and a new custom service division. LPi’s WeShare service is the largest electronic-giving provider serving the Catholic Church both in the US and abroad. Headquartered in New Berlin, WI, LPi has additional offices in Cleveland, OH, Hartford, CT, Las Vegas, NV, Denver, CO, Winter Haven, FL and Dublin, Ireland.
About YapStone
YapStone is a global provider of online and mobile payment solutions for global marketplaces and large vertical markets. YapStone powers electronic payments for sharing economy marketplaces, such as HomeAway® and VRBO®, and thousands of apartment and vacation rental companies, homeowners’ associations, self-storage companies, and hospitality establishments. Headquartered in the San Francisco Bay area, YapStone has additional offices in Santa Monica, California, Austin, Texas, and Drogheda, Ireland.