Waterland-backed Serrala buys AcceptEasy

AcceptEasy's management team will remain in their positions.

A spokesperson for Warerland told Unquote that the deal was sourced via the GP and Serrala's networks. They added that the company is currently screening other markets for potential add-on acquisitions and holding talks selectively with a number of companies.

AcceptEasy is the fifth bolt-on for Serrala, according to a statement. Waterland aims to build the company's capabilities in electronic bill presentation and payment (EBPP) and request-to pay (RTP) technology.

Waterland bought a majority stake in financial automation software provider Serrala, then known as Hanse Orga, in September 2016. The GP invested via Waterland Private Equity Fund VI, which held a final close in April 2015 on €1.55bn. The vehicle was 66% deployed as of June 2019, according to Unquote Data.

Serrala now operates in 19 countries and employs 700 staff. It has also opened Serrala Centre for Excellence in India.

Company
AcceptEasy provides a cloud-based platform for billing and invoicing of customers, as well as payment collection. Its client base includes Ticketmaster and Mercedes-Benz, according to its website.

Based in Amsterdam, the company employs 25 people. It was founded in 2007 and generates revenues of $6m, according to Zoominfo.

People
Serrala – Sven Lindemann (CEO).
AcceptEasy – Peter Kwakernaak (CEO).
Waterland Private Equity – Gregor Hengst (principal).

Advisers
Company – Lexence (legal); EY (financial due diligence, tax); Intuitus (technology due diligence).

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