Nets, a market leader in the Nordic payments industry, and Concardis, a merchant payment service provider in the DACH region, have completed the merger of the two companies.
Bo Nilsson will lead the combined Group as CEO and Robert Hoffmann will continue as Concardis Group CEO, reporting directly to Bo Nilsson. The headquarters of the Group will be in Ballerup, Denmark, and Nets and Concardis Group will retain their respective brands.
The merger creates a business with approximately EUR 500 million of EBITDA and EUR 1.3 billion of net revenue. The resulting industrial scale will enable further investments in innovation and service improvements for customers, allowing the Group to reinforce its leading position in the European payments market.
The newly formed Group is backed by leading private equity investors Hellman & Friedman, Advent International and Bain Capital. These owners each bring significant sector expertise, operational resources and capital to help accelerate the new Group’s growth and internationalisation, according to the official press release.