Investcorp Acquires Italian Alternative Payments Leader Epipoli

Investcorp, a global alternative investment firm, has signed a definitive agreement to acquire Epipoli, a leading Italian alternative payments enabler. The acquisition includes the stakes held by private equity firm Bregal Milestone and Epipoli’s founder and CEO, Gaetano Giannetto. Giannetto will retain a significant minority share and continue to lead the company. The financial terms of the transaction have not been disclosed.

Established in Milan in 2000, Epipoli has developed Italy’s largest customer relationship management (CRM) and loyalty program, serving over six million consumers. In 2006, the company introduced its gift card business, followed by the launch of Italy’s first prepaid Mastercard in 2012, solidifying its market leadership. Currently, Epipoli collaborates with millions of customers, thousands of distributors, and hundreds of retailers, boasting a turnover of approximately €400 million.

The company’s operations span payments, employee rewards, and customer engagement services. Investcorp aims to support Epipoli in accelerating its growth plans, expanding its payments and services platform, and reaching more customers both within Italy and internationally. Yusef al Yusef, Global Head of Distribution at Investcorp, expressed confidence in Epipoli’s management team and the quality of its platform, stating, “We look forward to working with Gaetano and the entire team on this new stage for the Company.”

Since Bregal Milestone’s initial investment in 2019, Epipoli has experienced transformative growth, quadrupling its gross revenues and completing three add-on acquisitions across Italy and Switzerland. Philippe Lautenberg, Managing Partner of Bregal Milestone, commented on the partnership, saying, “We are proud to have collaborated with Gaetano and his team at Epipoli during this pivotal stage of their growth journey.”