IPS Group acquired by Nayax

By acquiring IPS Group, Inc., Nayax Ltd. integrates projected annual sales of $50–100M and expands its addressable cashless market footprint into the global parking vertical. Announced in August 2026, the definitive agreement orchestrates the complete exit of the private equity firm Windjammer Capital Investors. The all-cash transaction secures the target at a total enterprise value of $300–700M on a cash-free, debt-free basis. Based on the estimated 2026 financial performance of IPS Group, Inc., which features an adjusted EBITDA of $10–30M and strong free cash flow conversion approaching 80 percent, the capital transfer commands a valuation multiple of 15x–25x before factoring in anticipated synergies. To finance this acquisition, Nayax Ltd. deploys available corporate cash reserves alongside approximately 150 million dollars in newly committed debt facilities, resulting in an expected net leverage ratio of 3.8x at closing, with deleveraging targets set below 3.0x by the end of 2027. The strategic rationale driving the investment committee at Nayax Ltd. focuses on migrating the newly acquired municipal payment volumes directly onto its proprietary processing infrastructure. By bridging its established global distribution network with the specialized software modules of IPS Group, Inc., the acquiring corporation intends to immediately accelerate geographic expansion into Continental Europe while unlocking substantial cross-selling opportunities for electric vehicle charging integrations. Operational modeling anticipates the realization of more than 8 million dollars in run-rate EBITDA synergies by 2029. Following the close, slated for the fourth quarter of 2026 subject to customary regulatory approvals, the existing executive management team will continue directing the parking business from its California base. The execution of this cross-border leveraged buyout required the coordination of specialized transaction advisors. Nayax Ltd. mandated Jefferies LLC to serve as its exclusive financial advisor, while retaining Reed Smith LLP to structure the legal perimeters of the deal. Conversely, Windjammer Capital Investors and IPS Group, Inc. secured Harris Williams to conduct the financial auction process, supported by comprehensive legal counsel from Kirkland & Ellis LLP.