Palamon exits cadooz to Euronet

Palamon reaped a return of 2.5x money and an IRR of 20% on the exit.

Previous funding
In August 2006, Palamon acquired cadooz for €15m from Cora Beteiligungsgesellschaft. Since then, cadooz has increased its annual turnover by 50% per year. Furthermore, the company has reached new customer groups, developed new product lines and expanded internationally.

Company
Hamburg-based cadooz is a supplier of vouchers and reward systems to corporate customers. Established in 2000, cadooz has a customer base of 3,000 businesses in Germany, Austria and Poland. The firm employs 60 people and expects a turnover of €80m for 2011.

People
Florian Welsch is CEO at cadooz.

Advisers
Equity – Willkie Farr & Gallagher, Stefan Jörgens, Mario Schmidt, Morgan Elwyn, Mark Getachew, Bettina Bokeloh, Rolf Hünermann, Stephanie Schmidt-Ehemann, Octávio de Sousa, Marco Müller, Tej Prakash, Jochen Riechwald, Maximilian Schwab (Legal); PricewaterhouseCoopers, Klaus Schmidt, Till Quasten (Tax); Alexander von Friesen (Other due diligence).
Buyer – Aderhold, Jan Hartmann (Legal).

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• Topics
• DACH
• Exits
• Consumer
• Germany
• Palamon Capital Partners