MARKET PAY acquired by ANACAP FINANCIAL PARTNERS
Context
A UK-based private equity organization specializing in financial services has successfully finalized the acquisition of a majority stake in the share capital of the target from its founding retail parent company. This strategic transaction represents a definitive "semi-spin-off," allowing the payment platform to transition from a captive internal unit into an independent, high-growth fintech competitor. The strategic rationale for the move centers on the acquirer’s objective to accelerate the platform’s diversification and market penetration beyond its original retail network. By incorporating institutional capital and specialized sector expertise, the organization reinforces its ability to capture new clients among physical distributors and e-commerce merchants. The partnership is designed to leverage the target’s proven technical operational depth and stable transaction volume to fuel an ambitious expansion strategy. This integration facilitates the professionalization of the firm’s management structure while allowing the founding retail group to remain a significant minority shareholder and strategic partner. The move solidifies the group’s standing as a primary enabler of omnichannel payment transformation in the European digital landscape.
MARKET PAY, which reported an EBITDA margin of [members only] in 2020, is valued in this transaction at an EV/EBITDA multiple of 15x–25x, representing a premium to the average currently observed in the Financial Services sector (12.4x).
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Target
Market Pay is a specialized technology organization operating as a comprehensive omnichannel payment platform. Originally incubated within a global retail leader, the entity’s business model is centered on a unified framework that integrates physical point-of-sale (POS) terminals, e-commerce payment gateways, and proprietary credit card management solutions. Its value proposition is anchored in technical operational depth, managing high-volume transaction environments and providing seamless payment experiences across diverse retail touchpoints. Strategically, the firm focuses on the industrialization of payment acceptance for large-scale distributors while developing scalable software-as-a-service (SaaS) solutions for the wider merchant market. By maintaining a robust infrastructure that handles billions of annual transactions, the organization ensures a mission-critical role in the digital and physical commerce ecosystem. The entity prioritizes technical innovation in mobile payments and data-driven fraud prevention to facilitate the structural evolution of the European financial services landscape.
Ent. Value
€300–700M
Equity Value
[members only]
Multiples
EV / Revenue
Above 6x
EV / EBITDA
15x–25x
EV / EBIT
[members only]
Historical Financials (EUR)
Similar deals in Fintech & Payments
Similar deals in Fintech & Payments
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 10/2022 | PARTNERS GROUP | TELEPASS | ITALY | Fintech & Payments |
| 10/2021 | ADVENT INTERNATIONAL / EURAZEO | PLANET PAYMENT | IRELAND | Fintech & Payments |
| 11/2020 | NEXI | NETS | DENMARK | Fintech & Payments |
| 10/2020 | THE CARLYLE GROUP | CALASTONE | UNITED KINGDOM | Fintech & Payments |
| 08/2020 | EURONEXT | VP SECURITIES | DENMARK | Fintech & Payments |
| 04/2019 | INFRONT | VEREINIGTE WIRTSCHAFTSDIENSTE VWD GROUP | GERMANY | Fintech & Payments |
| 11/2015 | EURAZEO | PLANET PAYMENT | IRELAND | Fintech & Payments |
| 03/2014 | ADVENT INTERNATIONAL / ATP PEP / BAIN CAPITAL | NETS | DENMARK | Fintech & Payments |
| 09/2013 | CVC | SKRILL GROUP | UNITED KINGDOM | Fintech & Payments |
| 08/2012 | EXPONENT PRIVATE EQUITY | PLANET PAYMENT | IRELAND | Fintech & Payments |
REFERENCES
Valuation range: EV €300–700M
Revenue range: €25–50M
EBITDA range: €10–30M
EV/Revenue range: Above 6x
EV/EBITDA range: 15x - 25x
Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of MARKET PAY by ANACAP FINANCIAL PARTNERS are reserved for mynth community members. Register for free to unlock full data.
Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.
Acquirer: anacap financial partners