Keensight Capital acquires majority stake in Buckaroo from Blackfin Capital
Keensight Capital, a leading private equity firm in pan-European Growth Buyout investments, has signed an agreement to invest in Buckaroo. Keensight Capital will succeed Blackfin Capital as majority shareholder and will work with Buckaroo's management team led by Paul Scholten.
With the support of Blackfin Capital, Buckaroo has built a strong international payment processing offering as well as a range of new, value-added services, such as recurring payments for businesses with subscription models, credit management, smart checkout and split payments for marketplaces. This has positioned the company as the strategic payment partner for well-known Dutch and Belgian businesses. Buckaroo also strengthened its offering for smaller customers by acquiring payment service provider Sisow in early 2021, and expanded into Belgium.
Keensight Capital will support the management team, made up of Paul Scholten, André Reumerman, Jelle Hoes and Maurits Dekker, in continuing the company's ambitious growth strategy. Since 2019, Buckaroo's revenue has grown by more than 30% per year in an attractive sector driven by the growth and professionalization of the e-commerce market. With twenty years of experience as a pan-European investor focused on technology and healthcare, Keensight Capital will help Buckaroo strengthen its product roadmap, including expanding its offering, go-to-market capabilities and geographic coverage, and will support Buckaroo as the sector consolidates.
Paul Scholten, CEO of Buckaroo: “We are excited to welcome Keensight as our partner in this new phase of growth, especially given the team's strong track record in accelerating growth and international development. We look forward to building on what we have achieved over the past 15 years. We are convinced that Keensight's sector knowledge and European reach will be major assets for the development of our company.”
Eric May, Founding Partner at Blackfin Capital Partners: “Buckaroo is another good example of how Blackfin adds value to companies it strongly believes in. After the carve-out from Intrum Justitia, we enabled management to capture the immense growth potential of the online payments market. Four years later, after successful vertical integration, customer-focused product development and bolt-on acquisitions, Buckaroo is ready for its next phase of growth with Keensight Capital. We are proud to have worked with Buckaroo's excellent team on this journey and wish them all the best.”
Stanislas de Tinguy, Partner at Keensight Capital: “We look forward to supporting Buckaroo and its management team led by Paul Scholten in the next chapter of its growth story. Thanks to its strong organization, solid platform, and original, differentiated product offering for mid-sized to large customers, Buckaroo has become one of the leading providers of next-generation payment services in the Benelux. The company is now exceptionally well positioned to seize the attractive opportunities in the European online payments market, keep growing at an accelerated pace and become an even bigger success story.”
The transaction is expected to close in the first half of 2022, subject to customary conditions and approval by the Dutch central bank, De Nederlandsche Bank (DNB).
About Keensight Capital
Keensight Capital, one of the leading European Growth Buyout investors, is committed to supporting entrepreneurs in implementing their growth strategies. For 20 years, the Keensight Capital team has applied its knowledge of investing in profitable, high-growth companies, focusing on businesses with revenue between €10 million and €400 million. Drawing on its expertise in the Technology and Healthcare sectors, Keensight identifies the best investment opportunities in Europe and works closely with management teams to develop and deliver their strategic vision. www.keensightcapital.com
About Blackfin Capital Partners
Blackfin Capital Partners, founded in 2009, is an independent private equity firm led by its Partners, who have worked with senior executives and entrepreneurs in the financial sector for decades. The team includes more than 35 investment professionals across offices in Paris, Brussels, Frankfurt and London. Blackfin invests exclusively in Buyouts and FinTechs in financial services and is the market leader in the sector in Europe, with €2 billion in assets under management. www.blackfin.com
