Moneycorp tipped to put up the ‘For Sale’ sign after processing more than £38bn worth of transactions last year
The owner of UK payments company Moneycorp is ready to put the company up for sale, according to City sources.
Private equity group Bridgepoint bought the FX specialist in 2014 for £212m. A sales process is planned for early next year.
Change of ownership: Moneycorp processed transactions worth more than £38 billion in 2021 – up 18 per cent on the previous year – and employs more than 500 people
Moneycorp processed transactions worth more than £38 billion in 2021 – up 18 percent year-on-year – and employs more than 500 people.
The company is run by former Travelex manager Mark Horgan.
Moneycorp expects earnings before interest, tax and exceptional charges to reach £50m next year after trying to reposition the company, two sources said.
The company holds a banking license and has become international and online.
Bidders are likely to include FLEETCOR, which bought Global Reach Group last month.
Bridgepoint and Moneycorp declined to comment.
Owner of the payment service provider Moneycorp wants to offer companies for sale
Source link Owner of the payment service provider Moneycorp wants to offer companies for sale