Deloitte Romania assisted Innova Capital in the acquisition of PayPoint Romania, which was completed in April 2021
14 April 2021
Deloitte Romania assisted the Poland-headquartered private equity firm Innova Capital in the acquisition of the market leading consumer payments operator PayPoint Romania from the British group PayPoint, transaction which was completed on April 8, 2021. The 50 million euros agreement was signed in October 2020 and was subject to competition and regulatory approvals, as well as to other precedent conditions.
PayPoint Romania reported gross assets of £48.5 million as of the end of March 2020. Through its over 19,000 terminals countrywide and its partnerships with over 170 major suppliers of telecom, utilities, transportation, security and financial services, the company collects over 100 million bill payments for 85% of the Romanian utility and telecom providers. PayPoint Romania also offers mobile top-ups, money transfers and credit/debit card acceptance services.
“Our experience from investments in consumer payments, POS management and the financial services sector will be put to good use securing further growth and developing new products and services for PayPoint Romania. We look forward to working with its management, creating new and innovative projects, and strengthening its position on the local market. We’re grateful to Deloitte for their expert support in the acquisition process,” stated Krzysztof Kulig, Senior Partner at Innova Capital.
Deloitte provided financial, tax and IT due diligence, as well as transaction support services in the process. The project team was made of Radu Dumitrescu, Financial Advisory Partner-in-charge, Vlad Balan, Deputy Director, Ionut Vasilescu, Manager, Dan Badin, Tax Partner, Ioana Nastase, Tax Senior Manager, Iulia Antonie, Risk Advisory Senior Manager, Deloitte Romania.
“This transaction is an important step for Innova Capital in its strategy to grow and diversify its portfolio in our country. It is also an important signal for the overall Romanian economy, as it shows this key investor’s confidence in the potential of the local market to generate value for the medium term. It is also worth mentioning that the entire process started and was finalized during a period impacted by the global pandemic,” stated Radu Dumitrescu, Financial Advisory Partner-in-charge, Deloitte Romania.
Innova Capital has been present in Romania since 1998 and its current portfolio includes Energobit, Optiplaza, Optical Network and, following this acquisition, Paypoint Romania.
With a team of 50 experts, Deloitte is one of the leading players in Romania in financial advisory and provides services to both local and multinational clients active in the private and the public sector. In 2020, Deloitte Romania’s Financial Advisory team was involved in over 100 complex projects through all its service lines.
Deloitte provides worldwide audit, consulting, legal, financial advisory, risk advisory, tax and related services to public and private clients spanning multiple industries. Deloitte serves four out of five Fortune Global 500 companies through a globally connected network of member firms in more than 150 countries and territories, bringing world-class capabilities, insights, and high-quality service to address clients' most complex business challenges. Deloitte's goal is to make an impact that matters through its more than 330,000 professionals.
Deloitte Romania is one of the leading professional services organizations in the country providing, in cooperation with Reff & Associates | Deloitte Legal, services in audit, tax, legal, consulting, financial advisory, risk advisory, business processes as well as technology services and other related services, through 2,000 professionals.
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About Innova Capital
Innova Capital is an independent private equity advisor, operating from Poland and investing in majority buyouts in mid-sized enterprises with activities in Central and Eastern Europe. From its the inception in 1994, Innova Capital has invested close to EUR 1 billion in almost 60 companies located in 10 countries in the region. Innova was recognized by the Polish Private Equity and Venture Capital Association (PSIK) as PE Management Firm of the Year 2019.