Ardian-backed Gantner buys Contidata

Managing director Burghard Genter will remain in his role, according to a statement.

Gantner expects the need for contactless payment systems to increase due to the coronavirus pandemic.

The sale was made via a structured process initiated by Carlsquare.

Ardian backed Gantner's MBO in February 2016 via Ardian Expansion Fund III, which held a final close in April 2014 on €500m. Debt was provided by NordLB.

Unquote sister publication Debtwire reported in January 2020 that Ardian had mandated GCA Altium – which advised the company on its original MBO – to structure the sale of Gantner. At the time, the process was expected to begin before the end of H1 2020 and the company was to be marketed based on EBITDA of €17m.

Gantner reported 2016 revenues of €36m, and €70m prior to the acquisition of Contidata. It has also increased its workforce from 200 people in 2015 to 450 people.

The acquisition of Contidata is Gantner's second bolt-on, following the acquisition of Syx Automations in June 2017, a contactless payment company specialising in the leisure sector, as reported by Unquote.

The company is currently screening potential add-on targets in France, Spain, Italy, the US, the Nordic region and Asia, seeking to expand its presence in existing and adjacent services.

Company
Contidata produces electronic contactless payment systems for the catering sector via its Maxxapp and Maxxpanel systems, intended for use in large catering settings such as corporate cantines. The company was founded in 1985 and is based in Dortmund, with additional offices in Berlin, Hamburg, Hanover, Cologne, Frankfurt, Stuttgart and Munich. It employs 40 people.

People
Contidata – Werner Genter, Burghard Genter (founders).
Gantner – Elmar Hartmann (managing director).

Advisers
Vendor – Carlsquare (corporate finance).

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