EuroProcessing International

Mezzanine funds managed/advised by the CapMan have signed an agreement to provide Norwegian transaction processing company EuroProcessing International ASA (EPI) with a mezzanine facility of up to EUR 10m. Together with an add-on investment from EPI's majority owner, the Nordic private equity investor Reiten & Co Capital Partners V (RCP V), a total of EUR 16m of junior capital will be invested for financing further international growth of EPI. This is CapMan's first mezzanine arrangement in Norway, made out of its newly-established Oslo office. RCP V initially invested in EPI in May 2003 and as a result of this add-on investment, RCP V's stake in EPI has increased to 62.6%.

Company

EPI provides transaction-processing services including authorisation processing, clearing and settlement, management of POS and ATM terminal networks, card management, card personalisation and fraud monitoring to national and international banks. EPI was established in early 2000 to participate in and develop the fast growing cards and electronic payments' markets in the Baltic States and Central and Eastern Europe. EPI acquired the Latvian BankServiss in 2000 and the Lithuanian Mokejimo Korteliu Sistemos (MKS) in 2001. The company has recently announced the acquisition of a majority interest in Transacty, the leading Slovakian transaction processing company. Although EPI’s headquarters are in Norway, the company does not have any business operations in there.

People

Markus Sjöholm and Kathryn Baker led the investment for CapMan and Reiten respectively. Sven Ottesen is the CFO of EPI

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