PE-backed Nets bolts on CCV Schweiz

The deal is the sixth M&A deal carried out by Nets since being acquired by Hellman & Friedman – a California-based private equity firm – in a take-private deal in 2018. The latest acquisition is part of Nets' European growth expansion strategy. 

Following the deal, CCV Schweiz will be integrated with Concardis Schweiz, which is part of Nets Group. 

Nets CEO Robert Hoffman said in a statement that strong growth rates in cashless payments, as well as a general openness to innovation and digitalisation, made Switzerland an attractive location for investment.

The acquisition is expected to be completed in the coming weeks.

Company
Founded in 1990 and based in Opfikon, CCV Schwiez was until now a subsidiary of Dutch group CCV and is a payment infrastructure provider with experience in card terminals and associated services, as well as cash register integration, and loyalty cards. CCV Schweiz has a portfolio of 34,000 payment terminals and employs 90 people at three locations in Switzerland.

People
Nets – Robert Hoffmann (CEO).
CCV Group – Enny van de Velden (board chair).

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