IK taps Small Cap Fund I to back Nordic payment solution provider OS

European buyout house IK Investment Partners will use its IK Small Cap I Fund to buy a majority stake in Sweden-based payment solution provider OS Group, or OpenSolution.

Gothenburg-headquartered OpenSolution offers the full gamut of payment services to hospitality sector businesses including restaurants, casinos and arenas among others.

In 2015, the company generated revenue of around SEK 80m.

Kristian Carlsson Kemppinen, partner at IK and advisor to the firm’s small-cap fund, said, “Since its foundation in 2005, OpenSolution has achieved remarkable growth.

“We believe the company is well-positioned through its strong offering, clear focus on innovation, and high customer satisfaction.

“Our intention is to strengthen OpenSolution’s continued development by providing financial support, industrial expertise as well as international experience.”

OpenSolution is the sixth investment of IK’s small-cap vehicle, which targets small businesses with high growth potential across Europe.

The other companies in the fund’s portfolio include, German fire protection solutions provider Svt group, Franco-Belgian pledge inventory services provider Auxiga Group, Scandinavian kitchenware retailer TCM Group, French customer services management outsourcing business Izium and Touristry, a Nordic tourism-related services provider.

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