Eurazeo-backed Planet acquires 3C Payment
Eurazeo portfolio company Planet has acquired payments company 3C Payment.
The acquisition was not backed by fresh capital by the firm.
This strategic acquisition will enable the new entity to offer its customers an integrated payment platform for domestic and international payments, as well as a variety of value-added services such as currency conversion and VAT refunds.
Unquote sister publication Mergermarket has reported on several occasions in 2018 and 2019 that Planet was looking to acquire payments firms. Planet will pay between €7m and €30m on an acquisition, CEO Patrick Waldron said.
In 2015, Eurazeo acquired Fintrax for £410m. The company acquired Planet Payment in 2017.
Company
3C Payment has developed a universal, omnichannel payment platform for businesses, hotels and restaurants. Luxembourg-based 3C Payment was founded in 1988.
People
Planet – Patrick Waldron (CEO).
More on Portfolio management
IK sells Hansen Protection to PE-backed Survitec
IK acquired the protective clothing and equipment producer from Montagu in 2013 via IK Fund VII
Corpfin sells Secna to EQT's Chr Hansen
Sale ends a six-year holding period for Corpfin, which bought a 51% stake in the company via its €255m fund IV
Clessidra's Botter bolts on Mondodelvino
Combined group expects to reach revenues of €350m in 2020 and further expand its market share
Abac sells Isolana to Blackstone's BME
Sale ends a two-year holding period for Abac, which acquired a stake in Isolana via its €320m fund Abac Solutions I
Latest News
Exponent acquires Gü
Exponent said in a statement that the dessert producer has international expansion potential
Appian Capital appoints Pinto as chief financial officer
Pinto will lead the investment strategy of Appian, which specialises in assets across the mining sector
Gro-backed Trifork to list in €400m IPO
Planned exit comes six years after software investor Gro Capital invested €6m in Trifork for a 20% stake
Top Tier Capital closes European fund on €260m
Fund makes primary and secondary investments in venture capital funds and co-investments in select portfolio companies
