In the context of a capital increase worth up to EUR 30 million, HPE Growth Capital is acquiring a minority stake in AEVI, a subsidiary of Wincor Nixdorf AG, with retroactive effect from October 1, 2015. AEVI intends to use the extra capital to accelerate its successful growth trend in the market for cashless payments.
AEVI had been carved out of the Wincor Nixdorf group at the start of the financial year (October 1) in a move which saw it position itself as an independent company with the aim of becoming a global leader in the dynamic market for cashless payment solutions. Prior to becoming an autonomous operation, AEVI had generated annual revenue of around EUR 50 million.
The capital increase is to be used primarily to further accelerate AEVI’s strong growth and to expand its global presence. “With HPE, we are delighted to have found an investor for AEVI that has a wealth of expertise in global payments. We are convinced that AEVI will profit from its shareholders Wincor Nixdorf, a global leader in cash-related payments, and HPE. We want to promote internationalization, intensify our sales and marketing activities, and invest in other innovations in payments and the B2B apps marketplace,” explained Eckard Heidloff, President and CEO of Wincor Nixdorf.
Tim van Delden, Partner & Chief Investment Officer of HPE commented as follows: “AEVI has the clear potential to become a game-changer in the area of global face-to-face payments. Its innovative payments platform combined with the B2B apps marketplace is helping to resolve current inefficiencies in this market.” In an initial tranche, a capital increase of EUR 20 million was facilitated; however, HPE and its investors have the option of purchasing further shares in AEVI in a second tranche worth up to EUR 10 million. Wincor Nixdorf intends to retain a majority holding in AEVI in the long term, too.
Support in the investment process was provided exclusively by Berenberg Bank.