Alantra advised Aduno on the sale of cashgate, a leading consumer and leasing finance business in Switzerland, to Cembra

Jul 2019

Sell-side advisory

Alantra, an independent global investment banking and asset management firm, has advised Aduno Holding, a major payment services firm, on the sale of its subsidiary company cashgate AG to Cembra Money Bank, a listed consumer finance business. The transaction is expected to close in the third quarter of 2019 for a purchase price of CHF 277 million.

cashgate AG, based in Switzerland, is a leading consumer leasing finance business. Through the acquisition of cashgate, Cembra will strengthen its position in the Consumer Leasing market and aims to expand its offering.  The ‘cashgate’ brand will continue to exist in the online segment and will contribute to innovations, distribution advantages and technical skills. In addition, Cembra plans to accelerate its digital transformation by leveraging cashgate’s IT platform.

Cembra continues to execute on its growth strategy, following the acquisitions of Swissbilling SA and EFL Autoleasing AG (both in 2017). With the acquisition of cashgate AG, the Bank increases its financing portfolio in personal loans and auto leases & loans by approximately CHF 1.4 billion to a total of approximately CHF 6.2 billion.

This transaction marks the fourth deal for Alantra Switzerland in the payment services/consumer loan business over the past two years after the sale of the SIX issuing business and the acquisition of the Aduno acquiring business in 2017 and the sale of Accarda last year.