Moneycorp, a London, UK-based specialist foreign exchange provider, has been acquired by private equity group Bridgepoint.
The transaction had an enterprise value of £212m from funds advised by SOF Investments.
Led by Mark Horgan, CEO, Moneycorp is one of the largest specialist players in the market targeting customers through a multi-channel offering, including a fully integrated online payments and telephone platform serving both SME corporate and private customers. In 2013 it recorded gross income of £97.2m (£65.2m in 2012) and handled over £10 billion of currency trades. In 2013 it also acquired Thomas Cook’s corporate foreign exchange business.
It currently serves UK based SMEs and UK high net worth individuals and operates a retail bureau de change business focused on London and the South East with 10 stores and 61 airport locations.
The company is also beginning to open up business internationally.
FinSMEs
01/09/2014