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Advent and Bain acquire Concardis

Thursday 26 January 2017

Advent International and Bain Capital Private Equity announced that they have signed a definitive agreement to acquire Concardis, a German payment service provider, from a group of German private banks, co-operative banks, savings banks and DZ Bank (cf. Smart Insights Weekly #16-42). Financial terms of the private transaction were not disclosed.


Concardis has been a joint venture of the German banking sector until now, and the change in ownership marks the beginning of a new phase of investment and planned expansion. Originally focused on connecting retailers to credit card systems, in recent years Concardis has developed a leading position as a full-service payment provider in the DACH region (Germany, Austria and Switzerland). The company has expanded its suite of services across the payments value chain, strengthening its capabilities in e-commerce, omnichannel payments and value-added services for its merchant customers, both organically and through strategic acquisitions. Over the past two years, Concardis has grown its transaction volume by 19.1% from EUR 35.2 billion to EUR 41.9 billion.


The new owners, Advent International and Bain Capital Private Equity, bring significant sector expertise, operational resources and capital to help accelerate Concardis’ growth and internationalization strategy. Collectively, they are the most experienced private equity investors in the payments sector globally and have completed over 20 investments in market segments relevant to Concardis. Most recently, Advent International and Bain Capital Private Equity have supported the development of ICBPI and ISP Processing in Italy, Nets in the Nordic region and Worldpay in the UK.


The completion of the transaction is subject to certain conditions, including approval by the Federal Financial Supervisory Authority (BaFin) and the German Federal Bank.