Bain-, Advent-backed Concardis buys PCS Paycard, Simplepay

Both companies focus on providing payment solutions to small and medium-sized enterprises, a market segment in which Concardis aims to expand.

They will continue to operate as independent companies after the acquisition, and both managing directors will remain at the helms of their respective firms.

Bain and Advent acquired Concardis in January 2017 for an enterprise value of €700m. Since then it has made add-on acquisitions including online payment specialist Ratepay and technical network operator Cardtech.

Company
Simplepay and PCS Paycard are located in Mannheim and Berlin respectively. Both are independent cashless payment terminal providers. The companies have a combined total of 35 employees and service around 6,500 terminals. In 2016, the transaction volume of credit card payments amounted to €98m.

People
PCS Paycard – Daniel Altehoefer (managing director).
Simplepay – Jason Altehoefer (managing director).

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