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NVM Private Equity Vintage III LP has completed the management buy-out of Leicestershire-based Secure Retail Limited (Secure), a leading provider of electronic payment solutions.
Electronic payments solutions software
Undisclosed MBO investment
Founded by CEO Carl Barton in 2003, Secure offers a range of hardware, managed services and software products principally to retail, hospitality and infrastructure clients, providing full integration with all payment services providers operating in the market. Secure’s wide range of products combined with its extensive knowledge of the electronic payments sector, ensure that the business is able to offer comprehensive market coverage and highly tailored solutions to its customers.
With an ever expanding and consumer led market, the payments industry is currently undergoing a substantial period of modernisation. Consumers now favour faster, easier and more accessible forms of payments such as card and contactless solutions, in contrast to traditional methods such as cash and cheques. In 2016, card transactions exceeded 50% of all payments and in 2017 had reached 16.3 billion, a figure which is expected to increase at 4% p.a. going forward, such that by 2027 these will exceed 23 billion. In addition, investment in hardware is being driven by both the regulatory environment and enhanced security protocols such that the current UK installed base of 2.4 million payment devices is expected to maintain its historic CAGR of 9% for the foreseeable future. Additionally, payment devices tend to be subject to a 3-5 year replacement cycle. Secure, with its growing portfolio of products and embedded expertise, is well-positioned to serve the payment needs of consumer-facing businesses.