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
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
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
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

Category Private Equity Firm
Founded 1987
PE ASSETS 435.0B 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 370 of 480
Sector (Internet Software and Services) 15 of 17
Type (Add-on Acquisition) 159 of 197
Country (United Kingdom) 25 of 36
Year (2019) 12 of 23
Size (of disclosed) 105 of 135
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-04-18 AlphaStruxure

Somerville, Massachusetts, United States

AlphaStruxure designs, builds, owns, operates, and maintains tailored energy infrastructure. AlphaStruxure is based in Somerville, Massachusetts.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-04-26 Luolai Lifestyle Technology

Shanghai, China

Luolai Lifestyle Technology is a home furniture company consisting of research & development, design, manufacture, and sales of bedding, furniture, linens and more. It is one of the earliest home furnishing professional manufacturers and retailers. The company transformed their strategy from focusing on home furnishing to a one-stop home lifestyle retail service with products covering home furnishing, interior design, etc. It aims to provide rich residential life and a brand new one-stop home furnishing shopping experience. Luolai Lifestyle Technology was founded in 1992 and is based in Shanghai, China.

Buy -
SELLER

Cardinal Capital Group

Investor Investor Investor Investor Investor

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 7
Sector (Internet Software and Services) 1 of 1
Type (Add-on Acquisition) 2 of 5
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 City Bin

Galway, Ireland

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

Buy -
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