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KKR To Acquire German Digital Payments Firm Heidelpay

August 04, 2019 / pymnts

Gobal investment firm KKR is acquiring a majority in German payments group Heidelpay for more than 600 million euros ($668 million), according to the Financial Times.Heidelpay Group and its majority stakeholder AnaCap Financial Partners reached an agreement on the terms of the investment from KKR, making KKR the new majority shareholder.AnaCap had the upper hand against rival Nordic Capital and EQT from Sweden. Worldline and Nets also lost out, according to people briefed on the transaction, FT said.M&A activity in the payments sector has been booming in recent years as digital alternatives take precedence over cash.“We see enormous growth potential both organically and through M&A across Europe,” said KKR’s Daniel Knottenbelt. “We will draw on our deep sector knowledge, track record of working with founders, and our expertise through 20 years of investing in Germany to further shape Heidelpay’s unique profile.”