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In this investment note, I will discuss EVERTEC (EVTC), a Puerto Rico based full-service transaction processing company serving the Latin America and the Caribbean region.

EVRC provides a broad range of merchant acquiring, payment processing and business process management services across 19 countries. It processes 1.8 bn+ transactions annually, and manages the electronic payment network for 4,100+ ATMs and 104,000+ POS payment terminals. It also owns and operates ATH network, one of the leading personal identification number networks.

The Story So Far...

EVTC has a 25 year operating history in the transaction processing industry. EVTC started as a 100% independent subsidiary of Popular Inc., the largest financial institution in the Caribbean. Apollo Global Management acquired 51% stake in...

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