Pollen Street Capital’s Acquisition of Majority Stake in Ding

Ding was advised by Jefferies, Davis Polk, A&L Goodbody, KPMG and PWC. Pollen Street was advised by Keefe, Bruyette & Woods (a Stifel Company), McCann FitzGerald, Buckley and Deloitte.

Pollen Street Capital, a London-based, independent, alternative investment management company, has acquired a majority stake in Ding, a mobile top-up service provider, in partnership with a substantial investment from the existing founder and CEO Mark Roden.

Financial terms of the deal were not disclosed but the equity value is pegged at around $300 million.

The transaction is expected to complete in September 2021.

Founded in 2006 by Mark Roden, Ding has developed into a global leader in international top-up and credit transfers, offering customers the ability to top up online, through an app, via partners through the Ding API and in over 600,000 retail stores.

The McCann FitzGerald team was led by Conor O’Dwyer (Picture) and included Stuart McCarron, Josh Hogan, Stephen Fuller, Mary Brassil, Alan Heuston, Jerome Kennedy, Tom Ó Maolagáin, James Quirke, Declan O’Rourke and Eva Giblin.

The Davis Polk corporate team included partner Will Pearce, counsel William Tong and associate Charlie Burrell. Partner Jonathan Cooklin and associate Freddie Schwier provided tax advice. Partner Nick Benham, counsel Aaron Ferner and associate Charlotte Allen provided finance advice. Counsel Matthew Yeowart and associate Mark Chalmers provided regulatory advice.

Involved fees earner: Charlotte Allen – Davis Polk & Wardwell; Nicholas Benham – Davis Polk & Wardwell; Charlie Burrell – Davis Polk & Wardwell; Mark Chalmers – Davis Polk & Wardwell; Jonathan Cooklin – Davis Polk & Wardwell; Aaron Ferner – Davis Polk & Wardwell; Will Pearce – Davis Polk & Wardwell; Freddie Schwier – Davis Polk & Wardwell; William Tong – Davis Polk & Wardwell; Matthew Yeowart – Davis Polk & Wardwell; Mary Brassil – McCann FitzGerald; Stephen Fuller – McCann FitzGerald; Eva Giblin – McCann FitzGerald; Alan Heuston – McCann FitzGerald; Josh Hogan – McCann FitzGerald; Jerome Kennedy – McCann FitzGerald; Stuart McCarron – McCann FitzGerald; Tom Ó Maolagáin – McCann FitzGerald; Conor O’Dwyer – McCann FitzGerald; Declan O’Rourke – McCann FitzGerald; James Quirke – McCann FitzGerald;

Law Firms: Davis Polk & Wardwell; McCann FitzGerald;

Clients: Ding.com; Pollen Street Capital; Roden Mark;

Author: Federica Tiefenthaler