Keensight Capital acquires majority stake in Buckaroo

Keensight Capital will succeed Blackfin Capital as majority shareholder and work with the Buckaroo management team led by Paul Scholten.

Through the support of Blackfin Capital, Buckaroo has developed a range of innovative and value-added services such as recurring payments for companies using subscription models, credit management, smart checkout and split-payments for marketplaces, in addition to a powerful international payment processing offering. In doing so, it has positioned itself as the strategic payment partner for well-known Dutch and Belgian companies. In addition, Buckaroo 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 which consists of Paul Scholten, André Reumerman, Jelle Hoes and Maurits Dekker in continuing the company's ambitious growth strategy. Since 2019, Buckaroo's revenues grew more than 30% annually in an attractive sector driven by the growth and professionalization of the e-commerce market. With twenty years of expertise as a pan-European investor focused on technology and healthcare, Keensight Capital will help Buckaroo strengthen its product roadmap such as: expanding offerings, go-to-market capabilities and geographic coverage, and supporting Buckaroo during industry consolidation.

Paul Scholten, CEO of Buckaroo said, "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 established over the past 15 years. We are confident that Keensight's sector expertise and European reach will be important assets for the development of our business."

Eric May, Founding Partner at Blackfin Capital Partners said, "Buckaroo is another great example of how Blackfin adds value to companies it strongly believes in. Following the separation from Intrum Justitia, we enabled management to harness 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 the next phase of growth with Keensight Capital. We are proud to have worked with Buckaroo's outstanding team during 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 phase of its growth story. Thanks to its strong organization, solid platform, and innovative and differentiated product offering for the mid to large customer segment, Buckaroo has become one of the leading providers of next-generation payment services in the Benelux. The company is now exceptionally well positioned to capitalize on the attractive opportunities of the European online payment market, to continue to grow 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 satisfaction of customary conditions and approval by the Dutch Central Bank.

About Keensight Capital

Keensight Capital, one of Europe's leading Growth-Buyout investors, is committed to supporting entrepreneurs in implementing their growth strategies. For 20 years, Keensight Capital's team has leveraged their knowledge of investing in profitable companies with high growth potential, focusing on companies with revenues between €10 million and €400 million. Drawing on expertise in the Technology and Healthcare sectors, Keensight identifies the best investment opportunities in Europe and works closely with management teams to develop and achieve 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 for decades with senior executives and entrepreneurs in the financial sector. The team has more than 35 investment professionals spread across offices in Paris, Brussels, Frankfurt and London. Blackfin focuses exclusively on investing in Buyouts and FinTechs in the financial services industry and is the industry leader in Europe with €2 billion in assets under management. www.blackfin.com

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Vicus has been working with Buckaroo since 2008 to set up Internet checkouts on web shops.