Deals
Theo Hoeksema, CEO, Accepte
Completion Date
January 2010
Transaction Type
Management Buyout
Transaction Value
€3 million
Lead Partner
Ron Belt
Telephone +31 73 623 8774
Background
PE house NoorderHuys Participaties has obtained a minority stake in Accepte, the internet and e-commerce company, especially known for its successful ticketing system Paylogic. NoorderHuys invests €3 mio in equity in the company, thereby taking over the former share of Van den Ende & Deitmers. Consequently, NoorderHuys' investment allows Paylogic to be rolled out throughout Europe, starting with Belgium and Germany, where Accepte's first clients have already implemented the successful Paylogic package. Van den Ende & Deitmers' earlier investments in Accepte facilitated the company to become one of the top 3 players in the Dutch ticketing market. By selling out to NoorderHuys Accepte is ready for its next stage of development.
2009 was another strong year for Accepte. It witnessed its markets, for a third year in a row, to grow in excess of 100% both in volume as in turnover. Accepte has been commended by many institutions; the Emerce 100 (E-commerce top 5 notation), twice in the Challenger 50 by Sprout, and named "Growth Brilliant" by FEM Business. Moreover, Accepte has been nominated as one of the twelve FAST 50 Rising Stars in the Benelux by Deloitte.
Paylogic has been launched in 2006. The innovative ticketing program has welcomed an extraordinary number of event organizations as its clients. Paylogic distinguishes itself by facilitating the sale of tickets on the event organization's own website, its full service approach and competitive pricing.
Accepte was founded in 2005 and grew rapidly to become a leading innovative IT organization with over 60 employees and two offices, in Groningen and Amsterdam.
What Difference Did We Make?
BlueMind has been advising Accepte on their first stage growth expansion and the initial investment by Van den Ende & Deitmers in 2007. In the second stage growth investment participation by NoorderHuys Participaties, BlueMind was once again called upon to advise Accepte's management. BlueMind advised Accepte in the buyout of Endeit, the bank financing and arranged the new investor. BlueMind led negotiations with NoorderHuys and finally closed the deal.