IK's OpenSolution bolts on Finnpos

Nicole Tovstiga
22 December 2017

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Swedish payment systems provider OpenSolution, backed by IK Investment Partners, has agreed to acquire Finland-based electronic payment service company Finnpos.

OpenSolution intends to extend its geographic reach and bolster its position in the Nordic region. Finnpos provides payment services for restaurants and petrol stations across Finland.

Previous funding
In June 2016, IK Investment Partners bought a majority stake in OpenSolution in a management buyout via its IK Small Cap I Fund.

The transaction was leveraged with an all-senior debt package provided by Nordea, according to unquote" data.

IK held a final close on €277m for its small-cap vehicle, IK Small Cap I Fund, in March 2016.

Company
Founded in 2000 and headquartered in Tampere, Finnpos offers payment services for restaurants and petrol stations in Finland.

The company has both international and local oil company chains and restaurants as customers. It employs a staff of 64 and also operates a sales office in Helsinki.

IK Investment expects the combine sales of the merged companies to be around €30m for 2017.

People
IK Investment Partners – Kristian Carlsson Kemppinen (partner).
OpenSolution – Christian Johansson (CEO).
Finnpos – Markki Piippo (CEO).