January 2018
acquired
Exclusive financial advisor to Advent, Bain and Concardis

Deal Team

Advent International and Bain Capital:

Jeff Paduch (Advent International)
Christophe Jacobs van Merlen (Bain Capital)
Matthew Bryant (Bain Capital)

Concardis:

Marcus W. Mosen
Daniel Bonert
Heiko Schacht
Luca Zanotti

Corestar Partners:

Milan Bartik
Clemens Hisch

Transaction Summary

  • Eschborn-based full-service payment provider Concardis has signed an agreement to acquire PCS PayCard Service GmbH and Simplepay GmbH, based in Mannheim and Berlin respectively. Both companies are independent sales organisations (ISO) and well-established giants in their respective regions, providing solutions for cashless payments at retail points of sale, especially with small and medium-size enterprises – a market segment where Concardis would like to expand its presence
  • With the acquisition of the two terminal providers, Concardis Group is continuing its growth strategy, supported by the shareholders Advent International and Bain Capital Private Equity. The stated objective of the two financial investors is to make Concardis a payment champion of German-speaking Europe through increased investment in infrastructure and innovation

Overview of PCS and Simplepay

  • PCS PayCard Services and Simplepay have made very good names for themselves as independent sales organisations in their locations of Mannheim and Berlin
  • With a total of 35 employees, the two companies see to the needs of some 4,700 customers with approximately 6,500 terminals. In 2016, the transaction volume of credit card payments amounted to €98 million
  • PCS PayCard Service and Simplepay will remain independent companies. Founders and managing directors Daniel Altehoefer and Jason Altehoefer will continue to manage the companies

Corestar Partners’ Role

  • Corestar Partners acted as exclusive financial advisor to Advent International and Bain Capital Private Equity as well as Concardis, providing in-depth strategic, process positioning and valuation services
  • Corestar Partners has been in close dialogue with Advent International and Bain Capital Private Equity as well as Concardis over the last years