New deal in Hospitality Tech: Clipperton advised Eijsink on its sale to METRO

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Executive Summary:

• This deal creates one of the largest software vendors in the field of cloud-based Point-of-Sales systems and digital solutions for the European hospitality market.
• With booq, Eijsink has positioned itself as a rapidly growing SaaS vendor with a strong market reach and footprint in Benelux, ready to scale across further European markets.
• This deal illustrates Clipperton’s expertise in the POS software and digital hospitality industries, after successfully advising Gastrofix, Zenchef and Click&Boat, Potager City, and Glovo on its transactions. In addition, this marks Clipperton’s 12th software deal in the last 12 months.

Our Client:

• Eijsink, founded in 1984, has grown into a leading player in the Benelux with cloud-based solutions for the hospitality and leisure industry. The company has offices in six different locations with around 200 employees and an expected annual turnover of more than 25 million euros in 2022.
• booq is Eijsink’s cloud-based POS solution offering an omnichannel software platform with an integrated partnership ecosystem, serving both enterprise and SME clients within the catering, hospitality and leisure industries. The platform optimizes the entire omnichannel guest experience from (QR) ordering to checkout, digital bar- & kitchen management processes, as well as providing real-time reporting & business insights.
• With booq, Eijsink has positioned itself as a rapidly growing SaaS vendor with a strong market reach and footprint in Benelux, ready to scale across further European markets. The Company reinvented itself with the successful transition from an on-premise software provider to becoming a best-of-breed & interconnected cloud POS platform.

Deal Highlights & Rationale:

• METRO has acquired 100% of the shares of Eijsink. The uniting of Eijsink and Metro subsidiary Hospitality Digital creates one of the largest companies in Europe in the field of cloud-based POS systems and digital platform services for the hospitality industry.
• Founded in 2015 as a wholly owned subsidiary of METRO, Hospitality Digital is METRO’s digitization company and helps hospitality entrepreneurs with their digital transformation. With ordering websites, online reservation modules, menu engineering solutions, websites and BI tooling, they’re serving a large part of the hospitality market in many European countries. More than 220,000 restaurateurs in 16 countries already use HD digital solutions to improve their business performance.
• With this transaction, Eijsink is able to accelerate internationally with the (in-house) developed software platform booq and to continue to lead with innovative software developments. The uniting of Hospitality Digital and Eijsink, two market leaders, creates a very powerful technology and distribution organization that offers progressive digitization solutions in numerous industries.

Clipperton’s Role & Expertise:

• Clipperton acted as exclusive financial advisor to Eijsink, its management and shareholders. In a highly competitive deal process with an international buyer universe, our client achieved a superior outcome by securing a buyer with the highest strategic fit out of a broad field of strategic and financial bidders.
• This deal illustrates Clipperton’s expertise in the Hospitality Tech sector, after a series of sell-side transactions in the past: Gastrofix’ sale to Lightspeed Commerce, Click&Boat’s growth investment from Permira and Boats Group, Potager City’s sale to Carrefour [ENXTPA:CA] and Glovo’s €30m acceleration round. In addition, this marks Clipperton’s 12th software deal in the last 12 months.
• Ferenc Birkenhäger, CEO at Eijsink, stated: “We are beyond excited to partner with METRO and Hospitality Digital to accelerate our business growth internationally. This is a stepping stone to create a very powerful technology and distribution organization.” He further added: “Clipperton’s outstanding sectoral knowledge and understanding of our business throughout the entire process proved to be critical in our search for the ideal strategic partner.”
• Ingmar Wegel, Director at Clipperton, stated: “We are thrilled to having advised Eijsink in finding the best-possible partner in merging booq as one of the most advanced POS cloud solutions into METRO’s leading ecosystem, which is creating a true powerhouse for digital hospitality solutions and which will define the European POS software market in the future. It’s been a pleasure working alongside innovators and outstanding entrepreneurs in the hospitality industry.”

Deal Team & Enquiries:

• Dr. Nikolas Westphal, Partner
• Ingmar Wegel, Director
• Ivan Pimentel, Senior Associate
• Samir Khalaf, Associate
• Julia Woelfel, Analyst

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About Clipperton

Clipperton is a leading investment bank dedicated to technology and growth companies. We provide strategic and financial advisory to entrepreneurs, corporates, and top-tier investors in Europe willing to execute transactions such as strategic M&A, private equity transactions, and private placements. Founded in 2003 and with offices in Paris, London, Berlin, Munich, New York, and Beijing, Clipperton has completed over 350 M&A and private placement transactions with fast-growing technology start-ups, blue-chip corporates, and renowned financial investors.