NoorderHuys exits Paylogic

SFX paid $16.5m to secure a 75% stake in Paylogic. The company's directors and founders have retained the remaining 25% stake.

According to a Securities and Exchange Commission (SEC) filing for SFX, the company plans on eventually purchasing the remaining 25% stake in Paylogic. The SEC filing states that at some point before the second quarter of 2016, SFX will provide a payment equal to 25% of Paylogic's 6x EBITDA figure in 2015 for the remaining shares in the company.

NoorderHuys invested in Paylogic in January 2010. The firm provided €3m to acquire the 41% stake held by Van den Ende & Deitmers – which had backed the company in March 2007 – in a replacement capital deal.

Company
Paylogic is the trading name of Accepté. Founded in 2007, Paylogic is headquartered in Groningen with additional offices in Amsterdam, Antwerp and Berlin.

The ticketing company specialises in the management of large-peak sales, namely a heavy influx of ticket requests in a short timeframe. Paylogic's platform offers online queuing systems and specific seating solutions, and the company claims that its platform has the highest transaction-per-second rates available.

According to SFX, Paylogic has sold more than 20 million tickets across 150 countries for events in more than 20 countries.

The company has a client base totalling more than 2,000, including André Rieu, Tomorrowland, KNSB and Sensation. Paylogic claims it has experienced a growth rate of 2,600% over the last five years.

People
Jan Willem van der Meer is CCO of Paylogic. Robert Sillerman is chairman and CEO of SFX.

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