RBC and BMO agree C$2bn sale of Moneris to Francisco Partners

November 2026 | DEALFRONT | PRIVATE EQUITY & VENTURE CAPITAL

Financier Worldwide Magazine

November 2026 Issue

The Royal Bank of Canada (RBC) and the Bank of Montreal (BMO) have agreed to sell Canadian payments provider Moneris Solutions to technology-focused investment firm Francisco Partners in a transaction valued at approximately C$2bn, with the proceeds split equally between the two banks.

The deal represents a significant ownership change for one of Canada’s largest commerce solutions providers. Founded 25 years ago as a joint venture between RBC and BMO, Moneris supports payment acceptance and commerce services at more than 325,000 points of commerce across the country.

Although ownership is changing, RBC and BMO will maintain longstanding relationships with the business through exclusive long-term customer referral agreements. The arrangements are intended to ensure that new and existing business clients continue to have access to Moneris products and services.

For Moneris, the transaction marks a new phase in its development, providing access to additional resources and industry expertise as it seeks to expand its offerings and strengthen its position in the Canadian payments market.

The acquisition also reflects continued investor interest in payment technology businesses benefitting from digital commerce growth and innovation.

“This marks an exciting next step in Moneris’ continued evolution as the company that powers Canadian commerce,” said James Hicks, president and chief executive of Moneris. “With Francisco Partners’ deep global expertise in technology and payments, we are well-positioned to further accelerate our ambitious strategy and continue to broaden the wide choice of solutions, support and experiences we deliver to businesses to help them achieve their aspirations.”

Moneris has grown into a major participant in Canada’s payments ecosystem since its establishment in 2000. The company provides payment acceptance, commerce and business management solutions tailored to the needs of Canadian merchants, helping businesses streamline operations and support growth.

Francisco Partners has extensive experience investing in technology, financial technology and payments businesses. Its portfolio has included a number of well-known commerce and payment technology providers, and the firm expects to support Moneris as it pursues further innovation and expansion.

“Moneris has played a central role in enabling Canadian businesses to modernise and scale by connecting them with more consumers more often through innovative payments solutions across the commerce ecosystem,” said Sean Amato-Gauci, group head of commercial banking at RBC. “The trusted team, leading platforms and unwavering commitment to clients that Moneris is known for will be leveraged and amplified by Francisco Partners in this next stage of growth.”

As part of the transaction, Jeff Sloan, former president and chief executive of Global Payments, will join Moneris as chairman. The appointment brings significant payments industry experience to the company as it enters a new ownership structure.

PJT Partners is serving as exclusive financial adviser to Moneris, while Torys is acting as exclusive legal adviser. PJT Partners also advised Moneris’ shareholders. RBC Capital Markets and BMO Capital Markets acted as financial advisers to the shareholders, with Blake, Cassels & Graydon LLP and Osler, Hoskin & Harcourt LLP providing legal advice.

Francisco Partners is being advised financially by Barclays, Goldman Sachs & Co. LLC and Wells Fargo. Legal advice is being provided by Kirkland & Ellis LLP and Stikeman Elliott LLP.

The transaction is expected to close by the end of the first quarter of 2027, subject to customary closing conditions and regulatory approvals.

“Moneris has earned the trust of Canadian businesses by delivering secure, reliable and innovative payment solutions,” said Sharon Haward-Laird of BMO. “This next chapter will enable Moneris to build on that strong foundation while accelerating its strategy in a rapidly evolving payments landscape.”

As regulatory approvals progress and ownership changes, Moneris is poised to strengthen its market position while advancing innovation across Canada.

Fraser Tennant