KKR to acquire majority stake in Heidelpay
Financial details have not been disclosed about the deal, which should close in the first quarter of 2020, subject to customary closing conditions. Mirko Hülleman, founder and CEO of Heidelpay, will remain as a long-term shareholder, along with other key managers.
AnaCap is currently the majority shareholder of the German company, which provides e-commerce, m-commerce and point-of-sale payment services to more than 30,000 online and face-to-face retailers and marketplace operators.
“We set out to become a market leader in omni-channel payment processing across the DACH region and with AnaCap’s powerful support, we have reached our goal in a very short time-frame,” says Mirko Hülleman. “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.”
Daniel Knottenbelt, member and head of EMEA financial services at KKR, adds: “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.”
KKR’s investment will support Heidelpay’s market expansion and product innovation aims, continuing the buy-and-build strategy initiated by AnaCap, which completed seven bolt-ons.