PaymentPlus hires Rothschild to explore sale process - sources
PaymentPlus, an Irish payment-services provider, has hired Rothschild to explore a sale process, two sources briefed on the situation said.
The Dublin-based company generates GBP 10m-GBP 15m (EUR 11m-EUR 17m) in EBITDA, these sources and a sector banker said. Rothschild has made preliminary preparations, the first source said, adding that the process is still in its early days.
The sale process is likely to attract both trade players and private equity firms experienced in payments, for example General Atlantic, Francisco Partners and TA Partners, the second source said.
PaymentPlus provides multichannel payment solutions and services, including Ingenico [EPA:ING] payment terminals, to small and medium-sized businesses. It also works in partnership with the UK payment company Barclaycard and Germany’s Wirecard [ETR:WDI], and has operations in Scotland. It was founded in 2011.
Mergermarket reported earlier this month that ParentPay, a UK-based school payment management company, is coming to market this year in another process led by Rothschild. Separately, Allpay, a UK-based online bill payment services provider, has hired EY to guide its sale process, which is set to kick off in June-July, also reported by Mergermarket.
PaymentPlus and Rothschild did not respond to requests for comment.