Abu Dhabi-based Investcorp Capital plc has announced its agreement to invest in Epipoli, a prominent alternative payments enabler in Italy. This investment comes after Investcorp Group signed a definitive agreement to acquire Epipoli from Bregal Milestone and its founder and CEO, Gaetano Giannetto, who will continue to manage the company. The terms of the transaction have not been disclosed, and it remains subject to standard regulatory and other closing conditions.

Established in Milan in 2000, Epipoli has developed the largest Customer Relationship Management (CRM) and loyalty program in Italy, boasting over 6 million customers. The company ventured into the gift card business in 2006 and introduced Italy’s first prepaid Mastercard in 2012. Today, Epipoli serves millions of customers and collaborates with thousands of distributors and hundreds of retailers, achieving an impressive turnover of approximately €400 million. It operates at the intersection of payments, employee rewards, and customer engagement services.

Investcorp Capital’s investment is expected to bolster Epipoli’s growth strategy as it seeks to expand its payments and services platform both in Italy and internationally. Since Bregal Milestone’s initial investment in 2019, Epipoli has seen a significant transformation, quadrupling its gross revenues and completing three add-on acquisitions in Italy and Switzerland.

Upon the completion of its investment in Epipoli, Investcorp Capital will have invested $280 million since the start of the current financial year. This investment aligns with the company’s business model, which aims to provide strong semi-annual dividends of at least 8% per annum.

Tim Mattar, Chief Executive Officer of Investcorp Capital, emphasized the firm’s commitment to leveraging its experience in technology-driven businesses to support Epipoli’s expansion across Europe. He stated that the investment highlights their goal of identifying growth opportunities that yield excellent returns for shareholders.

Mohamed Aamer, the Incoming Interim Chief Executive Officer of Investcorp Capital, added that the leadership position of Epipoli within the Italian alternative payments market perfectly reflects their strategy to pursue investments with attractive return profiles.