29 April 2017
Visit EBAday.com

Advent and Bain agree deal to buy Concardis

13 January 2017  |  6639 views  |  0 cash

Advent International and Bain Capital Private Equity are to acquire German payment processor Concardis from its consortium of bank owners.

Originally focused on connecting retailers to credit card systems, the thirty year old company has recently been expanding its suite of services across the payments value chain to cover new developments in mobile and e-commerce for its 110,00 merchant customers.

Over the past two years, Concardis has grown its transaction volume by 19.1% from €35.2 billion to €41.9 billion. In 2015, the firm posted a net profit of €24.2 million on sales of €480 million.

Concardis sits in the same territory as Worldpay and Nets, each of which have recently provided spectacular exits for Bain and Advent on the public markets.

Christophe Jacobs van Merlen, a managing director at Bain comments: “We have been following Concardis closely for some time. By increasing investment in innovation, infrastructure and skills, we will help Concardis become the payments champion in the DACH region (Germany, Austria and Switzerland).”

Terms of the transaction have not been disclosed, although it's understood Concardis' owners were looking for a figure around the €500 million mark.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

German banks prep sale of Concardis payments JV - Reuters

German banks prep sale of Concardis payments JV - Reuters

06 October 2016  |  4759 views  |  0 comments | 5 tweets | 4 linkedin
Nets files for IPO

Nets files for IPO

01 September 2016  |  5598 views  |  2 comments | 7 tweets | 1 linkedin
Worldpay seals biggest UK fintech IPO

Worldpay seals biggest UK fintech IPO

13 October 2015  |  12856 views  |  0 comments | 33 tweets | 25 linkedin
Bank-owned ConCardis invests in German iPad POS firm orderbird

Bank-owned ConCardis invests in German iPad POS firm orderbird

14 October 2014  |  4519 views  |  0 comments | 2 tweets | 3 linkedin
Advent and Bain in talks to buy Nordic payments firm Nets - Reuters

Advent and Bain in talks to buy Nordic payments firm Nets - Reuters

18 March 2014  |  5980 views  |  1 comments | 9 tweets | 4 linkedin

Related blogs

Create a blog about this story (membership required)
visit vasco.com/news/PSD2-compliant-solutionsvisit dh.comVisit capgemini.com

Top topics

Most viewed Most shared
Six global banks join Swift DLT trialsSix global banks join Swift DLT trials
7835 views comments | 16 tweets | 36 linkedin
BBVA steps up fintech acquisition strategy with purchase of OpenpayBBVA steps up fintech acquisition strategy...
7041 views comments | 17 tweets | 16 linkedin
Should central banks open up payment and settlement systems to non-banks?Should central banks open up payment and s...
6155 views comments | 22 tweets | 21 linkedin
JPMorgan formally quits R3JPMorgan formally quits R3
6071 views comments | 23 tweets | 14 linkedin
Token raises $15.7 million as PSD2 approachesToken raises $15.7 million as PSD2 approac...
5970 views comments | 20 tweets | 20 linkedin

Featured job

Six Figure Base + Commission + Stock Options
London

Find your next job