KKR Buys out German Payments Specialist Heidelpay

The US-based private equity firm KKR acquires the German group specialising in payments, Heidelpay.

Goal: support their international development
Amount: The amount of the transaction hasn’t been disclosed, but the Financial Times refers to a €600 million investment.
The investment funds reached an agreement with the British funds AnaCap, which has been holding 60% of the German company since 2017.
was founded in 2003 and based in Heidelberg. They focus on payment services for merchants, enabling their customers to accept online and mobile payments.
Ambition:
- generate €40.5M in earnings before interest, tax, depreciation and amortisation this year,
- expand their customer based in Germany,
- achieve €90M turnover, vs 15M in 2016.

Boosting their international projects. For now, Heidelpay almost exclusively operates in German-speaking countries, ad bets on KKR’s support to boost their international projects. This group claims they intend to gain ground in Europe, and acquire new companies to achieve this goal.
Fast-evolving industry. More mergers and acquisitions are announced on the market for payments. The ongoing transition to e-payments led valuations to increase, causing industry specialists to join forces for the sake of expanding their geographical coverage and scale.

A few months ago, the investment group KKR took part in one of the largest recent operations: the acquisition of processor First Data by service provider Fiserv for $22B in shares.
Over the past years, private equity firms have been behind multiple transactions. In February 2019, Nets welcomed a $5.3B bid from Hellman & Friedman, before it merged with Concardis, owned by Bain Capital and Advent.

Category : Alertes quotidiennes