German fintech company heidelpay to be acquired by investment firm KKR for €600 million+

Heidelpay, a payment processing provider for online shops and marketplaces, and its majority shareholder AnaCap Financial Partners, have reached an agreement with investment firm KKR, which will acquire a majority stake in the German payments group for more than €600 million, as reported by the Financial Times. The founder and CEO of heidelpay, Mirko Hüllemann, will remain as long-term shareholder alongside other key managers.

Founded in 2003, heidelpay is a full-service payment provider that offers a range of payment processing services to online and face-to-face merchants. It facilitates payment acceptance on behalf of merchants across various payment methods for e-commerce, m-commerce and at the physical point of sale. Currently the company claims to serve more than 30,000 retailers and marketplace operators, focusing on SMEs and corporates. The business operates in a European payments landscape that observes accelerating shift towards non-cash transactions and the continued growth of e-commerce.

During AnaCap’s investment, heidelpay accelerated the development of its omni-channel platform, a wide range of payment products, and proprietary technology. KKR says it is committed to supporting heidelpay in expanding its market share across the payments value chain, both organically and through strategic M&A, continuing the buy-and-build strategy initiated by AnaCap. KKR will also support heidelpay’s technology platform and product innovation roadmap.

Mirko Hüllemann, founder and CEO of heidelpay, said: “We firmly believe that KKR will help us with approaching larger customers and shaping the payment landscape globally. In my role as CEO and partner I’m looking forward to working with a fantastic management team in the next years.” 

The offer is subject to approval by the German Federal Financial Supervisory Authority, the Commission de Surveillance du Secteur Financier (CSSF) and other customary closing conditions. It is expected to close in the first quarter of 2020.