Nordic Capital acquires MPS from Industrifonden

Cidron SuperPay is a wholly owned subsidiary of Nordic Capital Fund VIII, a €3.5bn vehicle that closed in 2013. Cidron was created as a newco for acquisitions in the payment services sector.

The GP previously completed the SEK 2.2bn buyout of payments business Euroline through Cidron, as well as a bolt-on for the company, Samport Payment Services.

Following the deal, capital will be made available through Nordic Capital and Cidron to support MPS's development and growth.

Previous funding
In August 2012, MPS – called MobiVending at the time – received a SEK 18m investment from the government-backed Swedish fund Industrifonden in August 2012.

Company
MPS develops a payment system for vending machine purchases that allows customers to pay by text messages rather than cash, with the transaction being charged to either the phone bill or debit card.

Founded in 2009 and based in Stockholm, MPS customers include Coca-Cola and Swedish coffee chain Espresso house.

The company had revenues of SEK 869,000 and made a loss of SEK 8m last year, according to publicly available information.

People
Malin Carlström is an investment manager at Industrifonden. Christopher Lindfeldt is the CEO of MPS.

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• Topics
• Nordics
• Buyouts
• Industrials
• Sweden
• Nordic Capital
• Secondary buyout