Cardsave UK

Deal Summary

Catalyst advised the management team of Cardsave on their management buy out supported by RJD Partners in a transaction valued at £40 million.

Cardsave is the UK’s leading reseller of card payment terminals and credit and debit card processing services to independent retailers. The business also provides its 20,000 member retailers with a wide range of other business services such as utilities and parcel delivery, making it one of the UK’s largest business services buying groups.

What difference did we make?

We were initially introduced to the Cardsave shareholders and management in February 2000. Over the next three years we helped the owners and management team understand the changes required to the business model to ensure the private equity market would be attracted to the business. In May 2003, after discussions with the owners, we were engaged by the management team to deliver an exit for the owners via an MBO.

In addition to the development of the business model, we recognised that the unique nature of Cardsave’s relationship with its major supplier would be a factor in choosing the right private equity partner.

Due to the knowledge we hold of the private equity community and their trust in our experience, we were able to bring RJD to the table as a firm that would be comfortable with the supplier relationship.