Repay Holdings Corporation ("REPAY" or the "Company"), a leading provider of integrated payment processing solutions, today announced that it has completed the acquisition of Kubra Data Transfer LTD. ("KUBRA"). Under the terms of the agreement, REPAY acquired KUBRA for $372 million in cash. REPAY announced the definitive agreement to acquire KUBRA on March 30, 2026.
KUBRA reaches over 40% of households in the United States and Canada monthly.
Combined annual payment volumes expected to exceed $130 billion.
REPAY expects $15+ million annual run-rate cost synergies and $5+ million technology savings over three years.
$8 million of identified run-rate expense synergies expected during 2026.
Combined net leverage at closing approximately 4.0x; expected below 3.0x within 18 months.
REPAY expects Free Cash Flow accretion of 25% by 2028.
"With the addition of KUBRA, REPAY expands our position as a leading Consumer Bill Payment Provider with the technology and market position to lead the digital journey across the payment ecosystem," said John Morris, Co-Founder and Chief Executive Officer of REPAY. "We expect KUBRA will significantly increase our revenue, engage with over 40% of U.S. and Canadian households every month, and process over $130 billion in combined annual payment volumes as we serve non-discretionary categories with reoccurring billing cycles."
The Company previously outlined the combined value creation opportunities of approximately $15+ million of annual run-rate costs synergies and approximately $5+ million of technology savings over the next three years through combining operations, platform consolidation, and other scale efficiencies. REPAY expects to achieve approximately $8 million of the identified run-rate expense synergies during 2026. REPAY expects the transaction to unlock additional value with expected revenue opportunities of approximately $5+ million by 2028.
For the full year 2026, REPAY is raising its outlook to incorporate KUBRA's expected contributions for the remaining 7 months. KUBRA is expected to contribute between $150 million and $154 million in revenue and between $27.5 million and $30 million in Adjusted EBITDA for the remainder of 2026. On an organic basis, REPAY expects approximately 10% to 12% revenue growth.
REPAY is now expecting the following financial results for full year 2026:
Revenue: $490 - 500 million (Updated) vs $340 - 346 million (Prior)
Adjusted EBITDA: $168.5 - 176 million vs $141 - 146 million (Prior)
Free Cash Flow Conversion: 30% vs 45% (Prior)
Adjusted FCF Conversion: 35%
At closing, REPAY combined net leverage is approximately 4.0x and REPAY expects to reduce net leverage to below 3.0x within 18 months. The transaction was funded with debt financing and cash on hand. In connection with the transaction, REPAY has received financing of $500 million senior secured term loan, along with a $100 million undrawn revolving credit facility.
The Company is planning to provide more details on its strategy, execution priorities, and financial outlook at an Investor Day in December.
In addition to today's press release, the Company has provided additional details on the KUBRA acquisition including a multi-year synergy roadmap and 2026 outlook. The supplemental materials are available on REPAY's investor relations website at https://investors.repay.com/investor-relations under the "Presentation" section.
Advisors
Truist Securities, Inc. served as exclusive financial advisor to REPAY. Troutman Pepper Locke LLP served as legal advisor to REPAY. Financial Technology Partners served as exclusive financial advisor to KUBRA. Clifford Chance US LLP and the Hearst Office of General Counsel served as legal advisors to KUBRA and Hearst Corporation.
About REPAY
REPAY provides integrated payment processing solutions to verticals that have specific transaction processing needs. REPAY's proprietary, integrated payment technology platform reduces the complexity of electronic payments for clients, while enhancing the overall experience for consumers and businesses.
About KUBRA
KUBRA, founded in 1992 and headquartered in Mississauga, Ontario, is an industry-leading provider of customer experience management solutions to some of the largest utility, government, and insurance entities in North America. KUBRA's platform offering includes billing and payments, alerts and preference management, artificial intelligence solutions, mobile apps, and utility mapping solutions. KUBRA reaches over 40% of households in the United States and Canada, providing performance-driven value to more than 250 clients and their customers.
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