Exponent looks to cash in on interest for Cardsave

Exponent Private Equity acquired Cardsave, a supplier of credit card terminals and services to independent retailers in a £72m secondary buyout in mid-2007. The company was bought from a consortium of shareholders which included RJD Partners, Morley Fund Management and LDC; RJD Partners had originally led the £37m buyout of Cardsave in 2004.

A successful sale now could net £125m for the business, with private equity bidders expected to figure strongly, both directly and via portfolio companies.

Grimsby-based Cardsave was founded in 1995 to provide merchant services and other services to Britain's independent - mainly smaller - retailers. Clive Khan, the former CEO of Travelex before its sale to Apax Partners, heads the business; he and his management team jointly hold around a third of the company's equity.

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• Topics
• Exits
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• UK / Ireland
• Apax Partners