Who Owns EVERTEC Company?

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Who Owns EVERTEC?

Understanding a company's ownership is key to its strategy and governance. EVERTEC's journey includes a spin-off from Popular, Inc., private equity backing, and a 2013 IPO, making it a publicly traded entity.

EVERTEC, a major player in payment processing across Latin America and the Caribbean, serves a wide range of clients. The company achieved total revenues of $845.5 million in 2024 and $228.8 million in Q1 2025.

Who owns EVERTEC Company?

EVERTEC's ownership structure has evolved significantly since its inception. Initially a subsidiary of Popular, Inc., its path to becoming a publicly traded company involved substantial private equity investment, notably from Apollo Global Management. This transition culminated in its 2013 Initial Public Offering (IPO), which opened its shares to public investors. A detailed look at its market dynamics can be found in the EVERTEC PESTEL Analysis.

As of recent filings, institutional investors hold a significant portion of EVERTEC's shares. These include major asset management firms and investment funds that manage capital on behalf of a broad base of clients. Individual investors also contribute to the ownership base, though typically in smaller individual stakes compared to institutional holdings.

The current ownership landscape reflects a blend of institutional backing and public market participation, influencing the company's strategic decisions and operational focus. This diverse ownership base is a common characteristic of established, publicly traded companies in the financial technology sector.

EVERTEC's journey began in 1988 as EVERTEC Group, LLC, established in Puerto Rico. Initially, it was a wholly-owned subsidiary of Popular, Inc., the largest financial institution in the Caribbean. Popular, Inc. founded EVERTEC to provide essential processing technology services, demonstrating a clear strategic intent for the business's growth.

Founding Entity

EVERTEC was founded in 1988 by Popular, Inc. It operated as a subsidiary, providing crucial processing technology services.

Initial Operations

At its inception, EVERTEC was focused on processing transactions across the Caribbean and Latin America. It was already handling approximately 1.1 billion transactions annually.

Key Ownership Shift

A significant change in EVERTEC ownership occurred on September 30, 2010. This marked a transition from a subsidiary to a joint venture structure.

Private Equity Involvement

Funds managed by Apollo Management, L.P. acquired a controlling 51% stake in EVERTEC. This investment signaled a new phase of growth and strategic direction.

Joint Venture Formation

The acquisition by Apollo led to the formation of a joint venture with Popular, Inc., which retained a 49% interest. The venture was valued at approximately $868 million.

Strategic Partnership

Apollo Management expressed enthusiasm for partnering with EVERTEC's management team. The focus was on leveraging the company's growth potential in the market.

The foundational ownership of EVERTEC rested entirely with Popular, Inc., which established the company in 1988 to bolster its processing technology capabilities. This strategic move allowed Popular, Inc. to consolidate its service offerings and expand its reach within the Caribbean and Latin American markets. By September 30, 2010, EVERTEC was processing a substantial volume of transactions, estimated at 1.1 billion annually, underscoring its operational significance. The subsequent acquisition of a 51% stake by funds managed by Apollo Management, L.P. transformed EVERTEC into a joint venture, with Popular, Inc. retaining a 49% ownership. This pivotal transaction, valuing the joint venture at approximately $868 million, marked a significant shift, introducing private equity influence and setting the stage for EVERTEC's future trajectory as a key player in the payment processing industry. Understanding the Target Market of EVERTEC provides further context to these ownership changes.

Early Ownership Structure

EVERTEC's initial ownership was singular, with Popular, Inc. holding all equity. This structure facilitated the company's early development and operational focus.

• Founded in 1988 by Popular, Inc.
• Operated as a wholly-owned subsidiary.
• Focused on processing technology services.
• Processed approximately 1.1 billion transactions annually.

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The ownership journey of EVERTEC has seen significant shifts, from its initial formation as a joint venture to its public debut and subsequent divestitures by its early major stakeholders. These transitions have fundamentally reshaped who owns EVERTEC and its strategic direction.

Following its 2013 Initial Public Offering, EVERTEC transitioned from a joint venture to a publicly traded entity. Initially, Apollo Management held a significant stake, but by December 2013, this interest was fully divested. Popular, Inc., the other initial partner, also gradually reduced its holdings, completing the sale of its entire stake in August 2022. This marked a pivotal moment, freeing EVERTEC from certain banking regulatory constraints and paving the way for its future expansion. The company's ownership structure has since evolved to be dominated by institutional investors, reflecting a broad base of support from major financial entities.

EVERTEC Ownership Landscape

As of June 2025, EVERTEC's ownership is primarily held by institutional investors, indicating a strong confidence in the company's market position and growth potential. This shift has influenced the company's strategic focus.

• Institutional investors collectively hold a significant majority of EVERTEC stock.
• Major institutional shareholders include Fmr Llc, Blackrock, Inc., and Vanguard Group Inc.
• Insider ownership, representing company executives and directors, constitutes a smaller percentage.
• The divestiture by early major stakeholders has allowed EVERTEC greater operational flexibility.
• Understanding the EVERTEC ownership structure is key to grasping its strategic direction.

The current EVERTEC ownership structure, as of June 2025, is predominantly characterized by institutional investment. Fmr Llc is a significant holder with 9,542,111 shares, closely followed by Blackrock, Inc. with 9,424,101 shares, and Vanguard Group Inc. holding 7,165,922 shares. Collectively, institutional investors increased their holdings to 101.41% by June 2025, with mutual funds alone accounting for 90.79% of the ownership. Insider ownership, which includes shares held by executives and directors, was reported at 1.42% in April 2025. This broad institutional backing aligns with EVERTEC's strategy of consistent growth, market expansion, and delivering shareholder returns, as demonstrated by its active mergers and acquisitions and solid financial performance. For a deeper dive into the company's past, explore the Brief History of EVERTEC.

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The current Board of Directors for EVERTEC, Inc. features a blend of seasoned professionals with significant investment and industry backgrounds. Frank G. D'Angelo leads the board as Chairman, a role he has held since February 2014, and also serves as an Operating Partner at Hill Path. Other key members include Olga Botero, founder of C&S Customer and Strategy, and Aldo Polak, a Managing Director at Mizuho, both contributing substantial strategic and financial acumen.

EVERTEC's voting power is structured on a straightforward one-share-one-vote basis for its common stock, ensuring that each share held grants its owner a single vote on all matters presented to stockholders. The company does not appear to utilize dual-class shares or other mechanisms that would create unequal voting rights among shareholders. This governance approach fosters broad shareholder engagement, as demonstrated by the board's active discussions with stockholders representing a significant portion of held shares following the 2024 Say-on-Pay vote. Furthermore, an amendment approved in May 2023 allows for greater flexibility in board composition by removing the fixed nine-member requirement.

Understanding EVERTEC's Shareholder Influence

EVERTEC's voting structure ensures that all common stockholders have an equal say in company matters. The company actively engages with its shareholders to understand their perspectives.

• One-share-one-vote principle for common stock.
• No public indication of dual-class shares or special voting rights.
• Board actively engages with stockholders on governance matters.
• Flexibility in board size was introduced in May 2023.

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Over the past 3-5 years, EVERTEC's ownership landscape has been shaped by strategic acquisitions and consistent capital returns. The company has actively engaged in share repurchases and dividends, demonstrating a commitment to returning value to its EVERTEC shareholders. This dynamic approach reflects ongoing confidence in the company's market position and future prospects.

EVERTEC has significantly expanded its operations through strategic mergers and acquisitions, notably integrating Sinqia in 2024, its largest acquisition to date. Further acquisitions of Zunify, Grandata, and Nubity bolstered its product offerings and market reach, particularly in Latin America. The company's forward-looking strategy includes acquiring the remaining interest in a Sinqia subsidiary for digital signature solutions and securing a controlling stake in Brazil's Tecnobank, aligning with industry consolidation trends in fintech.

Strategic Acquisitions in 2024

EVERTEC integrated Sinqia, its largest acquisition, and acquired Zunify, Grandata, and Nubity. These moves expanded its product portfolio and market presence.

2025 Acquisition Plans

Plans include acquiring the remaining interest in a Sinqia subsidiary and a controlling stake in Brazil's Tecnobank. These acquisitions underscore continued expansion efforts.

Institutional Investor Confidence

As of June 2025, institutional investors held approximately 101.41% of EVERTEC's shares. Mutual funds held 90.79%, indicating strong market confidence in EVERTEC stock ownership.

Insider Ownership and Focus

Insider ownership stood at 1.42% in April 2025, remaining stable. The company's 2025 focus is on margin optimization, capital allocation, and organic growth, supported by its M&A pipeline, as detailed in the Growth Strategy of EVERTEC.

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