Paris-based private equity and venture capital firm Keensight Capital has announced the acquisition of a controlling stake in Utrecht-based Buckaroo, a payment solutions provider in the Netherlands. The deal is expected to be finalized in the first quarter of 2022.
Keensight succeeds Blackfin Capital as majority shareholder of Buckaroo alongside the management team led by Paul Scholten.
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Eric May, Founding Partner of Blackfin Capital Partners, said: âFollowing the separation from Intrum Justitia, we enabled Buckaroo to seize the immense growth potential that the online payments market could offer. Four years later, after successful vertical integration, customer-centric product developments and targeted acquisitions, the company is poised for its next stage of growth with Keensight Capital.
What does Buckaroo offer?
Founded in 2005, Buckaroo is a next generation online payment service provider (âPSPâ) based in the Netherlands and Belgium, enabling 12,500 customers (online merchants and corporate customers) to process their payments online. .
The company claims to have established itself as the strategic payment partner of its Dutch domestic customers and to become one of the main online PSP players in the Benelux over the past 15 years.
It has developed a full range of innovative and value-added services such as recurring payments for subscription companies, credit management, smart payment and split payments for marketplaces. Some of its clients include Picnic, Decathlon, Youfone, Swapfiets and (RTL) Videoland.
Buckaroo also strengthened its offering to smaller customers through the acquisition of payment service provider Sisow in early 2021, and expanded into Belgium.
How will Keensight support Buckaroo?
Keensight Capital aims to assist the management team of Paul Scholten, AndrÃ© Reumerman, Jelle Hoes and Maurits Dekker in the pursuit of the company’s ambitious growth strategy. It has experienced revenue growth of over 30% per year since 2019.
Building on its 20 years of experience as a pan-European technology and health-focused investor, Keensight Capital will help Buckaroo strengthen its product roadmap, expand its offering, go-to-market capabilities and its geographic coverage, and to support the company in consolidating the sector.
Paul Scholten, CEO of Buckaroo, said: âWe are delighted to welcome Keensight as a partner in this new phase of growth. We look forward to continuing to build on what we’ve created over the past 15 years, given the team’s strong track record in accelerating growth and international development for our merchants and for us. We believe that Keensight’s sector expertise and European reach will be a major asset for the development of our company.
About Keensight Capital
Founded in 2000, Keensight Capital, based in Paris, is a private equity and venture capital firm specializing in mid-venture, late venture, middle market, mezzanine financing, emerging growth, build-ups and capital investments. development.
The company prefers to invest in the Internet, Media and Information Technology, Health, Energy and Services, Consumer, Life Sciences, Information Technology sectors. and communication, media, medical technology and software, among others. It makes equity investments for the provision of capital to finance growth, either organically, or through acquisitions, or by cashing in from existing shareholders.
For 20 years, the Keensight Capital team has relied on its knowledge of investment and growth sectors to invest over the long term in profitable companies with high growth potential and revenues of between â¬ 10 million and â¬ 400 million. â¬. It takes positions as both minority and majority shareholders in the companies in its portfolio with or without leverage.
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