Electronic Payments Firm Payzone Put Up For Sale By CCI
Payzone, an Ireland-based electronic payments provider, has been put up for sale by private equity firm Carlyle Cardinal Ireland (CCI), according to the Irish Independent.
The paper reported that the payments business could fetch between €90 million and €110 million; a healthy markup from the €39 million CCI paid for the business back in 2015.
Arma Partners, a financial advisory firm, has been appointed by CCI to oversee the sales process.
Payzone, which was founded in 1989, handles more than one billion transactions annually. As well as in-store debit/credit card transactions, the business also handles a number of electronic transaction services such as mobile phone top ups, gift cards, household bills and motorway toll payments.
In March, CCI sold GSLS, an Irish logistics business, to European fund manager STAR Capital for an undisclosed sum.
Carlyle Cardinal Ireland is a joint venture between The Carlyle Group and Cardinal Capital Group, and describes itself as 'a €292 million private-equity fund focused on growth capital and buyout investment opportunities'.
© 2018 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: European Supermarket Magazine.