M&A Deal Summary

First Data and Allied Irish Banks Acquire Payzone UK

On April 18, 2019, First Data and Allied Irish Banks acquired internet software and services company Payzone UK from The Carlyle Group and Cardinal Capital Group for 100M EUR

Acquisition Highlights
  • This is First Data’s 10th and Allied Irish Banks’ 1st transaction in the Internet Software and Services sector.
  • This is First Data’s 5th and Allied Irish Banks’ 0th largest (disclosed) transaction.
  • This is First Data’s 1st and Allied Irish Banks’ 1st transaction in the United Kingdom.

M&A Deal Summary
Date 2019-04-18
Target Payzone UK
Sector Internet Software and Services
Buyer(s) First Data
Allied Irish Banks
Sellers(s) The Carlyle Group
Cardinal Capital Group
Deal Type Add-on Acquisition
Deal Value 100M EUR

Target

Payzone UK

Cheshire, United Kingdom
website
Payzone UK Ltd. is the largest consumer payments network in the country with over 7,500 retail agents which process a variety of electronic transaction services, including mobile phone top-ups, debit/credit card transactions; M50 motorway toll payments; Leap travel cards, local property tax payments, parking fees, schools and clubs payment platform, pre-paid utility and parcel collection services.

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Buyer(S) 2

Buyer

First Data

Atlanta, Georgia, United States

website

Category Company
Founded 1989
Sector Financial Services
Employees24,000
Revenue 8.7B USD (2018)
DESCRIPTION
First Data's corporate headquarters in Atlanta, Georgia.
First Data's corporate headquarters in Atlanta, Georgia.

First Data is a provider of electronic commerce and payment solutions for merchants, financial institutions and card issuers. First Data was formed in 1989 and is based in Atlanta, Georgia.

DEAL STATS #
Overall 23 of 23
Sector (Internet Software and Services) 10 of 10
Type (Add-on Acquisition) 20 of 20
Country (United Kingdom) 1 of 1
Year (2019) 3 of 3
Size (of disclosed) 5 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-03-21 ayCash

Nurnberg, Germany

ayCash GmbH is a provider of cashless payment terminals and digital merchant services. ayCash was founded in 2008 and is based in Nurnberg, Germany.

Buy -
Buyer

Allied Irish Banks

Ballsbridge, Ireland

website

Category Company
Sector Financial Services
DESCRIPTION

AIB recognises that it has a critical role to play in actively supporting the government's programme of economic recovery and job creation. With that in mind we want our entrepreneurs, early start-ups and SMEs across Ireland

DEAL STATS #
Overall 1 of 1
Sector (Internet Software and Services) 1 of 1
Type (Add-on Acquisition) 1 of 1
Country (United Kingdom) 1 of 1
Year (2019) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-06-30 Allied Irish Banks Canadian Operation

Canada

Allied Irish Banks, Canadian Operation, comprises a loan portfolio with the face value of approximately 650 million dollars and outstanding value of 500 million dollars.

Sell -

Seller(S) 2

SELLER

The Carlyle Group

Washington, District of Columbia, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1987
PE ASSETS 376.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.

The Carlyle Group is a global investment firm that pursues private equity, credit, and real estate investments worldwide. Carlyle's private equity practice practice pursues buyouts, strategic minority equity investments, equity private placements, consolidations and buildups, and growth capital financings. With offices in 19 countries, Carlyle can easily target opportunities throughout North America, Europe, Asia, Australia, the Middle East/North Africa and Latin America. Broad sectors of interest include aerospace, defense, automotive and transportation, consumer, retail, energy and power, financial services, healthcare, industrial, infrastructure, technology services, business services, telecommunications and media. The Carlyle Group was formed in 1987 and is based in Washington DC.

DEAL STATS #
Overall 366 of 438
Sector (Internet Software and Services) 14 of 15
Type (Add-on Acquisition) 158 of 183
Country (United Kingdom) 24 of 31
Year (2019) 12 of 23
Size (of disclosed) 102 of 130
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-04-11 Vereinigte Wirtschaftsdienste

Amsterdam, Germany

Vereinigte Wirtschaftsdienste GmbH (VWD Group) is a provider of software solutions. With its intuitive solutions on a modular technology platform, vwd empowers wealth management and investment professionals to make smarter, more efficient and regulatory-compliant investment decisions.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-04-30 Stratum Reservoir

Houston, Texas, United States

Stratum Reservoir operates customer-focused laboratories to enable the discovery and sustainable development of energy resources through applied geosciences. Stratum supports energy resource investment and divestiture strategies worldwide through the analysis and interpretation of rocks and fluids. Stratum specializes in reservoir characterization, laboratory services and instrumentation designed to deliver scientific insights in upstream, midstream and mining operations.

Buy $205M
SELLER

Cardinal Capital Group

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 2002
PE ASSETS 292M EUR
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Cardinal Capital Group is an investment group principally focused on providing alternative financing solutions to small and mid-sized companies throughout Ireland. Cardinal Capital looks to invest €5 to €50 million per transaction and will consider direct investments as well as mezzanine financing commitments. Cardinal Capital Group was formed in 2003 and is based in Dublin.

DEAL STATS #
Overall 2 of 4
Sector (Internet Software and Services) 1 of 1
Type (Add-on Acquisition) 2 of 2
Country (United Kingdom) 1 of 2
Year (2019) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-03-29 Sports Surgery Clinic

Dublin, Ireland

Sports Surgery Clinic is specialized in orthopaedic joint replacement surgery and sports injuries. Operating from a single site in Dublin, the hospital has a current capacity of 63 in-patient beds and 26-day case beds. There are 21 on-site consultancy suites, five ultra-clean-air operating theatres, a diagnostic imaging department, a physiotherapy department, a wellness/health screening facility and research laboratories. Sports Surgery Clinic was founded in 2007 and is based in Dublin, Ireland.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-05-30 The City Bin

Galway, Ireland

The City Bin is a waste collection company engaged in providing waste management and recycling services. The City Bin was founded in 1997 and is based in Galway, Ireland.

Buy -
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