TakeoverPE & activists

PRTHPriority Technology Holdings, Inc.

Services-Business Services, NEC · $646M market cap · 1,200 employees

6.0×

More likely than average to be taken private

Top 1% of the Russell 3000 for a buyout by a private-equity firm, holdco or insiders. How it works

Takeover signals

What an activist or buyer would see: cheap, overpaid, diluted or under pressure.

3of 15 firedHow well they predict deals →
12 other checks
  • TSR below peersNo
    —
    3+ of last 5 years
  • High CEO pay despite TSRNo
    $5M median
    Median CEO pay ≥ $15M while TSR trails
  • Earnings not backed by cashNo
    180% of net income
    Cash flow under 80% of net income
  • Dilutive SBCNo
    1% of revenue
    Over 10% of revenue
  • Payouts exceed cash flowNo
    1% of cash flow
    Buybacks + dividends over cash flow
  • Goodwill-heavyNo
    17% of assets
    Over 40% of assets
  • Shareholder dissentNo
    94% lowest support
    Any vote under 80% support
  • Low revenue per employeeNo
    $794K · 72nd pct
    Bottom quartile of its SIC industry
  • Quiet on AINo
    1.4 per 10K words · 43rd pct
    Bottom quartile of AI mentions in 10-Ks
  • Net cashNo
    4.5× EBITDA net debt
    More cash than debt, positive EBITDA
  • AI-rollup shapedNo
    2 of 10
    10-K business scored 5+ of 10 as an AI-rollup target
  • Net insider sellingNo
    −$24K net
    Net sales over $10M in 12 months

Deal filings

FiledFormAcquirerPricePremium
Oct 30, 2026SC 13E3WD Capital Partners (Thomas C. Priore), with Searchlight Capital as equity financing source——
Oct 30, 2026PREM14AWD Capital Partners (Thomas Priore)$8.0565%
Sep 21, 20268-KWD Capital Partners Parent Inc. (controlled by CEO Thomas Priore; equity from Searchlight Capital)——
Jul 5, 2018DEFM14A—$10.51100%
Apr 19, 2018PREM14AM I Acquisitions, Inc.$10.2222.5%

Key numbers

Revenue
$953MFY2021: $515MFY2022: $664MFY2023: $756MFY2024: $880MFY2025: $953M
8.3% YoY
Operating margin
14.8%FY2021: 6.4%FY2022: 8.5%FY2023: 10.8%FY2024: 15.2%FY2025: 14.8%
2.3% YoY
EBITDA
$204MFY2021: $83MFY2022: $127MFY2023: $150MFY2024: $191MFY2025: $204M
6.8% YoY
Net debt / EBITDA
4.5×
$924M net debt

Financials

MetricFY2021FY2022FY2023FY2024FY2025YoYTrend
Revenue$515M$664M$756M$880M$953M 8.3% FY2021: $515MFY2022: $664MFY2023: $756MFY2024: $880MFY2025: $953M
Operating income$33M$56M$82M$133M$141M 5.9% FY2021: $33MFY2022: $56MFY2023: $82MFY2024: $133MFY2025: $141M
Net income——−$1M$24M$56M 132% FY2023: −$1MFY2024: $24MFY2025: $56M
Operating cash flow$9M$71M$81M$86M$100M 17% FY2021: $9MFY2022: $71MFY2023: $81MFY2024: $86MFY2025: $100M
Capex$10M$19M$21M$22M$25M 15% FY2021: $10MFY2022: $19MFY2023: $21MFY2024: $22MFY2025: $25M
Stock-based comp$3M$6M$7M$6M$11M 77% FY2021: $3MFY2022: $6MFY2023: $7MFY2024: $6MFY2025: $11M
Buybacks$2M$7M$1M——FY2021: $2MFY2022: $7MFY2023: $1M
Dividends$7M$11M$25M$24M$0 100% FY2021: $7MFY2022: $11MFY2023: $25MFY2024: $24MFY2025: $0

13D filers

FiledFilerFormStakeIntent
Sep 21, 2026Priore Thomas CharlesSCHEDULE 13D/A56.5%Passive
Dec 18, 2025Priore Thomas CharlesSCHEDULE 13D/A56.7%Passive
Nov 10, 2025Priore Thomas CharlesSCHEDULE 13D/A56.7%Active
Jan 22, 2025Priore John VitoSCHEDULE 13D/A5.4%Passive
Jun 21, 2024Priore John VitoSC 13D/A11.5%Passive
Jun 21, 2024Priore Thomas CharlesSC 13D/A61.8%Passive
Apr 20, 2020Priore Thomas CharlesSC 13D/A68.8%Passive
Nov 19, 2019Priore Thomas CharlesSC 13D/A69.7%Passive
Aug 21, 2019Priore Thomas CharlesSC 13D/A69.7%Passive

Insider trading

−$24Knet selling by insiders, open market, last 12 months
Bought $0 · 0 tradesSold $24K · 3 trades

Pay vs performance

YearCEO total compComp actually paidTSR (indexed)Peer TSR
FY2025$8M$6M104—
FY2024$5M$7M167—
FY2023$5M$5M51—