Bain and Advent bought an 80 per cent interest in peer WorldPay from Royal Bank of Scotland for £2bn nets in 2010 and could look to add Nets to their portfolio according to Reuters, which cited four people with direct knowledge of the matter.
The sources said card payment services were seen as an attractive business for private equity firms as they offer steady cash flows and are not affected by economic cycles.
Nets, Europe’s number two card payments processor, currently handles about 33 million payment cards every year, and had 2012 revenues of about €800m and profits of about €91.5m.
Bain and Advent cancelled plans to sell WorldPay via an auction earlier this month after failing to find buyers willing to meet their $800m to $1bn asking price.
WorldPay’s US unit currently has an EBITDA of between $90m and $130m.
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