£70m acquisition announced of Haydock card payments firm
Haydock-based card payments business Handepay has been acquired by PayPoint in a £70m deal.
Digital payments, retail technology and in-store services provider PayPoint has also acquired card terminal leasing business, Merchant Rentals, in the deal.
Handepay, which provides card payment services to independent businesses across the UK, currently employs more than 150 people.
The business will continue to operate from its current location in Haydock, with staff joining forces with PayPoint’s workforce under the new operation.
The new combined operation will have more than 30,000 SME customers across a range of sectors.
PayPoint Group is a leading provider of cutting-edge digital payments solutions, innovative retail technology and essential in-store services serving millions of consumers every week.
The Hertfordshire-based group’s businesses serve a diverse range of customers from leading service organisations like EDF and Monzo, retailers from Tesco to the best UK independent stores, parcel carriers like eBay and DPD to the millions of consumers who pay bills, get cash, make card payments or pick up parcels every day at thousands of locations across the UK and Romania.
It is a boom time for card payments as businesses and consumers alike make more contactless purchases and shop online as a result of COVID-19.
Data from PayPoint, from April to September 2020, showed a 75% increase in card payments during the first national COVID-19 lockdown.
Mark Latham, card services director at PayPoint and formerly chief commercial officer for Handepay, said: “The two businesses have a lot in common and together will be able to offer so much more to our customers.
“Combined, we now have more than 30,000 SME customers across a range of sectors and are aiming to increase that through joining the PayPoint Group.
“It’s a fantastic opportunity for Handepay and the local economy as we continue to grow and grow.”
Nick Wiles, PayPoint chief executive, said: “We’re delighted to be welcoming Handepay and Merchant Rentals to the PayPoint Group.
“The team have built a true North West business success story and we’re excited to continue that story together over the coming years.”
JMW Solicitors advised Handepay on the deal.
