KKR to Acquire Majority in German Payment Company

KKR to Acquire Majority in German Payment Company

by August 5, 2019
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Heidelpay and its majority shareholder AnaCap have today reached an agreement on the terms of investment from KKR, a leading global investment firm.

KKR will acquire a majority shareholding in the company, with Mirko Hüllemann, founder and CEO of heidelpay, and other key managers remaining as long-term shareholders.

Full-service payment provider

Founded in 2003, heidelpay is a full-service payment provider that offers a complete range of payment processing services to online and face-to-face merchants. Heidelpay facilitates payment acceptance on behalf of merchants across various payment methods for e-commerce, m-commerce and at the physical point of sale. They serve currently more than 30,000 retailers and marketplace operators, focusing on SMEs and corporates.

The business operates in a European payments landscape underpinned by strong growth drivers, including an accelerating shift towards non-cash transactions and the continued growth of e-commerce.

During AnaCap’s investment, heidelpay accelerated the development of its omni-channel platform, complete range of payment products, and proprietary technology.
Heidelpay can now play a key role in consolidating the fragmented European payments market. KKR is committed to supporting heidelpay in expanding its market share across the payments value chain, both organically and through strategic M&A, continuing the buy-and-build strategy initiated by AnaCap who completed seven bolt-ons. KKR will also support the company´s ambitious technology platform and product innovation roadmap.

Mirko Hüllemann

Mirko Hüllemann

Mirko Hüllemann, Founder and CEO of heidelpay, said:

“We are very excited to have attracted renowned global investor KKR to support us in the next stage of our growth journey. With its long-standing experience in financial services and technology, and its deep international network, we firmly believe that KKR will help us approaching larger customers and shaping the payment landscape globally. In my role as CEO and partner I’m looking forward to working with a fantastic management team in the next years.”

Daniel Knottenbelt

Daniel Knottenbelt

Daniel Knottenbelt, Member and Head of EMEA Financial Services at KKR, said:

“We look forward to working together with Mirko and his highly experienced management team to help heidelpay continue to grow. We see enormous growth potential both organically and through M&A across Europe. We will draw on our deep sector knowledge, track record of working with founders, and our expertise through 20 years of investing in Germany to further shape heidelpay’s unique profile.”

The offer is subject to approval by the German Federal Financial Supervisory Authority, the Commission de Surveillance du Secteur Financier (CSSF) and other customary closing conditions. It is expected to close in the first quarter of 2020. KKR will make this investment from its European Fund V. Financial details of the transaction were not disclosed.

 

Featured image credit: Unsplash

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