Report
Paul Charpentier

initiation of coverage Conviction BUY, EUR20

The prince of card in the cash kingdom
Structural changes since 2016
Stemming from the merger between ICBPI’s payment assets and CartaSi in 2009, Nexi chose its current name in 2017 after a private equity consortium made up of Advent, Bain Capital and Clessidra took over the company in 2016. Under the consortium’s impulsion, Nexi operated a major strategic shift to focus entirely on payment services and completed a dozen acquisitions and several disposals in Italy. After going public in April 2019, the firm acquired Nets and SIA in Q4 2020, transforming the local payment service provider (PSP) into a leading pan-European player.
Underlying
Nexi S.p.A.

Nexi SpA. Nexi SpA is an Italy-based financial technology company. The Company is specialized in the payment technology field offering digital services and infrastructure to banks, businesses, institutions and the public administration.

Provider
Bryan Garnier
Bryan Garnier

Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.

Analysts
Paul Charpentier

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