SWEDEN | Nordic Capital Fund VIII ("Nordic Capital") buys Euroline, the Swedish based merchant acquirer. Euroline enables both offline and online merchants to accept debit and credit card payments. Euroline has particularly a strong market position in eCommerce and online travel.
Merchant Acquirer Euroline
Based in Stockholm, Sweden, Euroline is a well-established provider of secure card acquiring solutions for the Scandinavian market. The company was a wholly-owned subsidiary of SEB Group, one of Europe’s leading banks providing financial services to corporate clients, institutions and private individuals. Euroline AB offers businesses the secure infrastructure for accepting cards, the ability to accept multi-currency payments and to manage payment related risks. In 2013, Euroline handled card volumes of SEK 100 billion (approx. 11 billion euro).
Expand into new markets
"Euroline offers businesses a simple and secure infrastructure for card transactions both online and in stores. Nordic Capital's intention is to support Euroline's further growth through the development of market leading local tailored services and to expand into new markets," says Fredrik Näslund, Partner, NC Advisory AB, advisor to the Nordic Capital Funds.
"I look forward to continuing to develop Euroline together with Nordic Capital. Our joint vision is to make Euroline one of the most innovative and growth-focused payment companies. This will enable us to respond to our customers' needs for advanced payment services. For our employees, Euroline will provide an interesting and stimulating environment with great opportunities for further development," says Johan Ryer, CEO, Euroline.
Euroline has a strong market position, especially in e-commerce and travel operations. The company provides card acquiring services to SEB's corporate customers, corresponding to volumes of approximately SEK 100 billion and over 200 million transactions per year. Euroline is based in Stockholm and has approximately 50 employees. For more information, please see www.euroline.se
About Nordic Capital
Nordic Capital private equity funds have invested in mid-market companies primarily in the Nordic region since 1989. Through committed ownership and by targeting strategic development and operational improvements, Nordic Capital enables value creation in its investments. Nordic Capital Funds invest in companies in northern Europe and in selected investment opportunities internationally. The most recent fund is Nordic Capital Fund VIII with EUR 3.5 billion in committed capital, principally provided by international institutional investors such as pension funds. Nordic Capital Funds are based in Jersey, Channel Islands, and are advised by the NC Advisory companies in Sweden, Denmark, Finland, Norway, Germany and the UK.
Sourced from Nordic Capital, May 28th, 2014