Aquiline Capital Partners Launches Fullsteam

New platform will bring together vertical software companies to streamline payments and support growth

Industry veteran Michael Lawler named Chief Executive Officer

Fullsteam completes acquisition of Rental Management Inc.

NEW YORK – May 29, 2018 – Aquiline Capital Partners, a New York-based private equity firm investing in financial services and technology, announced today the launch of Fullsteam, a new holding company with a mission to acquire software and payments businesses across a range of vertical markets, and drive increased growth and profitability through more efficient payments, capital investment and operational support. Building on the success of Aquiline’s efforts in buy-and-build payments platform strategies, the firm has earmarked significant resources for Fullsteam.

“Our goal is to create the leader in integrated software and payments in our focus markets,” said Jeff Greenberg, Chairman and Chief Executive Officer of Aquiline. “The launch of Fullsteam is an exciting development for our portfolio of fintech companies, and we look forward to working with management to deliver to entrepreneurs the tools and resources needed to innovate and grow faster.”

Michael Lawler, a veteran financial technology and payments executive, has been named Chief Executive of Fullsteam. Michael is the former President of the Strategic Markets Group at Heartland Payments Systems (NYSE: HPY), which recently sold to Global Payments for $4.3bn, where he led multiple strategic acquisitions of software and payments companies across verticals like K-12, higher education, micropayments, biller direct, and e-commerce.

“We are highly focused on creating an environment for talented entrepreneurs and their businesses to thrive,” said Lawler. “In addition to Fullsteam’s streamlined payments infrastructure, our family of companies will benefit from access to marketing and sales expertise, back office support, software development resources, and growth capital. We want to allow entrepreneurs to focus on what they do best: growing their businesses.”

Fullsteam also announced today the acquisition of Rental Management Inc. (RMI), the first equipment rental management software business to join the platform. RMI is one of the leading providers in its industry, with loyal customer relationships, sophisticated technology, and a flexible platform that caters to industrial, medical, and logistics equipment rental businesses. The company was founded by Paul R. Chapdelaine in 1982 and will be led by David G. Richards, President, following the acquisition. No financial details were disclosed.

Mr. Lawler added, “RMI embodies our focus here at Fullsteam, and we’re excited to work with David and the RMI team to build upon the outstanding foundation they’ve created.”