---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-26-075414"
form_type: "8-K"
ticker: "DLX"
cik: "0000027996"
company_name: "DELUXE CORP"
filed_at: "2026-06-18T11:11:17+00:00"
generated_at: "2026-06-18T11:15:12.925095+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Deluxe to acquire Celero Commerce for $625M cash; expects Q3 2026 close

## Summary
- All-cash deal for $625M plus seller expenses; financed via $375M Term Loan A and revolver draw.
- Expected to be accretive to adjusted EPS in first year post-close; cost synergies >$15M by 2028.
- Combined net leverage ~3.9x at close; target below 3.0x within 24 months; dividend policy unchanged.
- Celero 2025 revenue >$200M with 28% adjusted EBITDA margin and 90% unlevered FCF conversion.
- Deluxe reaffirms 2026 full-year guidance; updated guidance post-close; transaction expected 3Q'26.

## SEC filing metadata
- accession: 0001104659-26-075414
- form_type: 8-K
- ticker: DLX
- cik: 0000027996
- company_name: DELUXE CORP
- filed_at: 2026-06-18T11:11:17+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 2.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/27996/000110465926075414/0001104659-26-075414-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/27996/000110465926075414/tm2618004d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-26-075414
- JSON: https://secwatch.observer/filing/0001104659-26-075414.json
- Plain text: https://secwatch.observer/filing/0001104659-26-075414.txt

## Key facts
- Material Agreements
  DELUXE CORP entered into Commitment Letter with certain financial institutions party thereto (the “Lenders”) (effective 2026-06-17).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: certain financial institutions party thereto (the “Lenders”)
  - Effective: 2026-06-17
  source text: In connection with the execution of the Purchase Agreement, the Company has delivered to the Sellers’ Representative a debt commitment letter (the “Commitment Letter”) executed with certain financial institutions party thereto (the “Lenders”), pursuant to which the Lenders have committed, subject to the terms and conditions contained therein, to provide the Company with debt financing in the amounts and on the terms set forth in the Commitment Letter (the “Debt Financing”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/27996/000110465926075414/0001104659-26-075414-index.htm
- Material Agreements
  DELUXE CORP entered into Equity Purchase Agreement and Plan of Merger with Calypso Merger Sub LLC, Celero Intermediate Holdings LLC, LLR V Payments, LLC, LLR International V, L.P., LLR Representative V, LLC valued at approximately $625 million in cash (effective 2026-06-17).
  - Action: entry
  - Agreement: merger
  - Counterparty: Calypso Merger Sub LLC, Celero Intermediate Holdings LLC, LLR V Payments, LLC, LLR International V, L.P., LLR Representative V, LLC
  - Value: approximately $625 million in cash
  - Effective: 2026-06-17
  source text: On June 17, 2026, Deluxe Corporation (the “Company”) entered into an Equity Purchase Agreement and Plan of Merger (the “Purchase Agreement”) by and among the Company, Calypso Merger Sub LLC, a Delaware limited liability company and wholly-owned subsidiary of the Company (“Merger Sub”), Celero Intermediate Holdings LLC, a Delaware limited liability company (“Celero”), LLR V Payments, LLC, a Delaware limited liability company (“BlockerCo”), LLR International V, L.P., a Delaware limited partnership (“BlockerCo Seller”), and, in its capacity as representative of the Sellers, LLR Representative V, LLC, a Delaware limited liability company (the “Sellers’ Representative”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/27996/000110465926075414/0001104659-26-075414-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.