Telepass acquired by Partners Group
Context
Telepass has acquired a significant equity stake in Telepass. This strategic partnership is designed to accelerate the target’s existing growth trajectory, build scale across European markets, and establish a leading pan-European platform for customer-centric mobility services. The strategic rationale for the deal is rooted in the high-growth potential of the electronic payment sector and the resilience of the target's core electronic toll collection business, which provides stable, non-cyclical cash flows. The investment enables the target to focus on several value-creation initiatives, including the consolidation of the European market through both organic development and acquisitive growth, the strengthening of its "one-stop mobility payment" solution for B2B and B2C segments, and the scaling of mobility insurance coverage. By leveraging the acquirer’s global platform and operational expertise, the target is well-positioned to execute its inorganic growth strategy and further advance its technological capabilities. The transaction also places a strong emphasis on ESG initiatives, with the partners working alongside management to foster sustainable transport solutions that reduce urban congestion and carbon emissions.
Telepass, which reported an EBITDA margin of [members only] in 2021, is valued in this transaction at an EV/EBITDA multiple of 15x–25x, standing directly in line with the average observed in the Financial Services sector (15.0x in 2022).
-> Deep-dive in Financial Services market trends
Target
Telepass is a leading European provider of integrated mobility and payment services, renowned for its pervasive network of automatic toll collection systems. Founded on the management and commercialization of electronic toll payment devices, the company has successfully evolved into a comprehensive mobility platform. Its core operations center on the management of On Board Units (OBUs), currently exceeding 10 million active devices, which facilitate seamless transit across a network of over 200,000 kilometers in 19 countries. Beyond traditional tolling, the company has diversified its value proposition into integrated mobility solutions, including parking management, insurance services, and vehicle-related payment applications. By positioning its mobile application as a central hub for daily travel needs, the firm maintains a highly resilient customer base and a strong ecosystem of data-driven services. Its business model thrives on the high-frequency interaction with users, ensuring operational continuity and enabling real-time service delivery.
Ent. Value
€1–10bn
Equity Value
[members only]
Multiples
EV / Revenue
Above 6x
EV / EBITDA
15x–25x
EV / EBIT
[members only]
Historical Financials (EUR)
Other operations with Partners Group
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 08/2026 | PARTNERS GROUP | AROMA-ZONE | FRANCE | Hygiene & Beauty Brands |
| 06/2025 | PARTNERS GROUP | MPM | UNITED KINGDOM | Pet Care |
| 02/2022 | PARTNERS GROUP | FOREFRONT DERMATOLOGY | UNITED STATES | Outpatient Care |
| 01/2022 | PARTNERS GROUP | ATNORTH | ICELAND | Hosting / Datacenter |
| 11/2021 | PARTNERS GROUP | DIVERSITECH | UNITED STATES | Valves, Pumps & Taps |
| 07/2021 | PARTNERS GROUP | PHARMATHEN | GREECE | CDMO |
| 07/2020 | PARTNERS GROUP | ROVENSA | PORTUGAL | Specialty Chemicals |
| 01/2017 | PARTNERS GROUP / PSP INVESTMENTS | CERBA HEALTHCARE | FRANCE | Labs (Biology) |
Similar deals in Fintech & Payments
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 02/2025 | SHIFT4 | GLOBAL BLUE | SWITZERLAND | Fintech & Payments |
| 01/2025 | SS&C TECHNOLOGIES | CALASTONE | UNITED KINGDOM | 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 |
| 10/2020 | ANACAP FINANCIAL PARTNERS | MARKET PAY | FRANCE | 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 |
REFERENCES
Valuation range: EV €1–10bn
Revenue range: €150–250M
EBITDA range: €100–200M
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 Telepass by Partners Group 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.
Press release: view release
Target: telepass
Acquirer: partners group
FAQ
What transaction does this page cover?
How was the acquisition of Telepass by Partners Group valued, and what multiples were paid?
What were Telepass’s revenue and EBITDA at the time of the deal?
How does the valuation of Telepass compare to benchmarks in the Financial Services sector?
What sources support the information on this transaction?
What is mynth?